US STOCKS-Tech leads Wall Street rebound after worst day of 2019

* Indexes up: Dow 0.62%, S&P 0.72%, Nasdaq 1.03%
* Tech stocks provides biggest boost to the three indexes
* Tariff sensitive Apple, chip stocks rise
* Take-Two jumps after raising FY revenue forecast

(Updates to open)
By Medha Singh
Aug 6 (Reuters) - U.S. stocks bounced back on Tuesday, led
by gains in technology shares, as China stepped in to stabilize
the yuan, 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,
after China let the yuan drop sharply, prompting the U.S.
Treasury Department to label Beijing as a currency manipulator.
China's move to fix the yuan at a slightly stronger rate
overnight, however, allayed fears of an escalating trade war,
which has been fueled by President Donald Trump's threat to slap
a new round of tariffs on Chinese imports last week.
"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."
Also helping the sentiment were comments from White House
economic adviser Larry Kudlow that Trump wants to continue trade
talks with China and still plans to host a Chinese delegation
for further talks in September. At 9:49 a.m. ET, the Dow Jones Industrial Average .DJI was
up 158.31 points, or 0.62%, at 25,876.05, the S&P 500 .SPX was
up 20.49 points, or 0.72%, at 2,865.23. The Nasdaq Composite
.IXIC was up 79.27 points, or 1.03%, at 7,805.31.
The technology sector .SPLRCT , which includes companies
that have a big exposure to China and were at the heart of
Monday's selloff, rose 1.42%, the most among major S&P sectors.
Apple Inc AAPL.O gained 1.5% after three days of heavy
losses, while Philadelphia SE semiconductor index .SOX climbed
1.53%.
Among other stocks, videogame publisher Take-Two Interactive
Software Inc TTWO.O jumped 8.6% after raising its full-year
revenue forecast. Payments processor Mastercard Inc MA.N gained 2.2% after
it said it would buy a majority of the corporate services
businesses of Scandinavian payments group Nets for about $3.19
billion. Walt Disney Co DIS.N was up 0.7% ahead of its 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.
Advancing issues outnumbered decliners by a 2.57-to-1 ratio
on the NYSE and by a 3.21-to-1 ratio on the Nasdaq.
The S&P index recorded two new 52-week highs and nine new
lows, while the Nasdaq recorded 10 new highs and 36 new lows.