US STOCKS-Financials, energy push Wall Street higher in volatile trading

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* Disney slips as theme parks reopening delayed
* Boeing declines after Berenberg downgrade
* Indexes up: Dow 0.20%, S&P 0.18%, Nasdaq 0.30%

(Updates to early afternoon)
By Medha Singh and Devik Jain
June 25 (Reuters) - Wall Street's main indexes edged higher
in choppy trading on Thursday, as gains in financial and energy
shares helped recoup early losses due to an alarming rise in new
coronavirus cases and elevated jobless claims.
The S&P 500 banks sub-index .SPXBK rose 2.4% as U.S.
banking regulators unveiled a pair of rules that will make life
easier for large banks with complex trading and investment
portfolios. The broader market sentiment, however, remained negative as
the number of new cases in U.S. states, especially in the West
and South, kept climbing even as coronavirus hospitalizations in
New York declined. Texas Governor Greg Abbott said he was halting his state's
phased economic reopening in response to a jump in COVID-19
infections and hospitalizations. The flare up in cases has threatened to halt a Wall Street
rally that was powered by a raft of global stimulus since late
March.
After coming within 5% of its record high in early June, the
benchmark S&P 500 has lost nearly 6% in the past two weeks and
analysts cautioned further declines amid worsening economic
forecasts.
"It appears that the market may have entered into a new
stage of needing direction. It doesn't seem that the worries
over a virus resurgence are enough to truly start forming a down
leg of a W-shaped recovery," said J.J. Kinahan, chief market
strategist at TD Ameritrade in Chicago.
All the three major indexes opened lower as data showed the
number of Americans filing claims for unemployment benefits fell
less than expected last week likely as hiring by reopening
businesses is being partly offset by a second wave of layoffs.
At 12:58 p.m. ET, the Dow Jones Industrial Average .DJI
was up 51.48 points, or 0.20%, at 25,497.42, the S&P 500 .SPX
was up 5.43 points, or 0.18%, at 3,055.76. The Nasdaq Composite
.IXIC was up 29.98 points, or 0.30%, at 9,939.14.
Wall Street's fear gauge, the CBOE volatility index .VIX ,
was trading flat after rising earlier in the session.
The energy sub-sector .SPNY gained about 0.9%, as oil
prices recovered. O/R
Walt Disney Co DIS.N fell 1.9% after it delayed the
reopening of theme parks due to the health crisis. A report also
said the company was considering postponing the July 24 release
of "Mulan". Boeing Co BA.N tumbled 2.4% as rival Airbus AIR.PA
reached a crucial jetliner production target and smoothed recent
industrial problems. The Federal Reserve will release results of the lenders'
stress tests after the markets close.
Advancing issues outnumbered decliners by a 1.05-to-1 ratio
on the NYSE and by a 1.34-to-1 ratio on the Nasdaq.
The S&P index recorded four new 52-week highs and no new
low, while the Nasdaq recorded 53 new highs and eight new lows.