US STOCKS-Wall Street set to rebound after worst day of 2019

* Futures up: Dow 0.85%, S&P 0.86%, Nasdaq 1.03%
* Tariff sensitive Apple, chip stocks rise
* Take-Two jumps on raising FY revenue forecast

(Changes quote, adds details, updates prices)
By Medha Singh
Aug 6 (Reuters) - Wall Street was set to bounce back on
Tuesday, as China stepped in to steady the yuan and investors
sought beaten-down technology stocks, a day after Wall Street's
main indexes racked up their steepest one-day percentage fall of
the year.
The benchmark S&P 500 .SPX and Nasdaq .IXIC lost at
least 3% each on Monday, their sixth straight day of losses, as
China let the yuan drop sharply in what was seen as a
retaliation to President Donald Trump's threat to slap a new
round of tariffs on Chinese imports last week.
Fears of an escalating trade war were fanned further after
U.S. Treasury Department labeled Beijing a currency manipulator
late on Monday. "The fact that China stabilized its currency gives investors
some hope that this won't accelerate into a bigger problem,"
said Rick Meckler, partner at Cherry Lane Investments, a family
investment office in New Vernon, New Jersey.
"Any positive response by either side that suggests some
willingness to negotiate is really going to be taken well by
investors."
At 8:28 a.m. ET, Dow e-minis 1YMcv1 were up 218 points, or
0.85%. S&P 500 e-minis EScv1 were up 24.25 points, or 0.86%
and Nasdaq 100 e-minis NQcv1 were up 75.75 points, or 1.03%.
Of the 30 Dow Jones Industrial components .DJI , 29 were
trading higher before the bell.
Shares of technology companies, which have a big exposure to
China, were also higher.
Apple Inc AAPL.O rose 1.0% after three days of heavy
losses, while shares of semiconductor companies - Intel Corp
INTC.O , Advanced Micro Devices Inc AMD.O and Nvidia Corp
NVDA.O - rose between 1.1% and 2%.
Industrial bellwethers Boeing Co BA.N and Caterpillar Inc
CAT.N rose about 0.6% each.
Among other stocks, videogame publisher Take-Two Interactive
Software Inc TTWO.O jumped 7.1% after raising its full-year
revenue forecast. Payments processor Mastercard Inc MA.N gained 1.7% after
it said it would buy a majority of the corporate services
businesses of European payments company Nets for about $3.19
billion. Walt Disney Co DIS.N was up 1.3%. The company is set to
report its third-quarter results after market close.
The latest streak of losses has pulled the S&P 500 about 6%
away from its all-time high hit last month.