Surging technology shares prompted more buying on Wall Street yesterday as investors welcomed analyst upgrades and Apple’s reported talks to use Intel chips in its computers.

Software stocks also received a boost from analysts at Goldman Sachs, who upgraded the entire sector.

However, while many investors remained optimistic after last week’s rally, many remained on the sidelines ahead of the release of the Federal Reserve’s May 3 meeting minutes and the latest reading on the gross domestic product, due later this week.

The Dow Jones industrial average rose 51.65, or 0.49%, to 10,523.56, its highest level since April 7. The Standard & Poor’s 500 index was up 4.58, or 0.39%, at 1,193.86 for its best close since March 15, and the Nasdaq composite index climbed 10.23, or 0.5%, to 2,056.65, its highest close since March 10.

It was the seventh straight gain for the Nasdaq, which hadn’t notched seven up sessions in a row since November 1-8.

The good mood helped stocks overcome a surge in oil prices – a barrel of light crude rose 51 cents to $49.16 on the New York Mercantile Exchange.

Volume was light in stock trading – a sign that there’s still money on the sidelines that has not yet been invested. But the fact that the stock market failed to sell off Friday after the four previous sessions’ gains helped renew confidence in the market despite a lack of economic news.

“I think this is a great show of resiliency in the marketplace,” said Michael Palazzi, managing director of equity trading at SG Cowen.