US STOCKS-Techs rise, helped by falling oil price

by Walker Simon

* Oil price tumble helps techs, airlines, retailers
* Citigroup shares fall on CFO warning on write-downs
* Financials weigh on the broader market (Updates to midafternoon)

NEW YORK, June 19 (Reuters) – The Nasdaq rose on Thursday as top technology companies and other exporters benefited from tumbling oil prices, seen as easing strains on global economic growth.

But the Dow and the S&P 500 indexes were little changed, restrained by an extended slide in financial companies that was triggered by Citgroup’s warning of write-downs in subprime mortgages.

U.S. oil prices Clc1 fell $4.13 a barrel to $132.53 a barrel on the belief that demand will take a hit after China raised gasoline and diesel prices by 18 percent, its first domestic fuel hike in eight months.

Shares of big manufacturers, including Boeing Co (BA.N: Quote, Profile, Research, Stock Buzz) and DuPont Co (DD.N: Quote, Profile, Research, Stock Buzz), rose on the back of the lower oil prices. Retailers’ shares also benefited, with Costco Wholesale Corp (COST.O: Quote, Profile, Research, Stock Buzz) up 0.7 percent. Both sectors were helped by the view that lower oil prices would take less of a toll on business and consumer spending. […]