US STOCKS-Wall St climbs as oil jumps after Gulf tanker attacks

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* Oil surges, top percentage gainer among S&P sectors
* Twitter drops as brokerage forecasts rising costs
* Indexes up: Dow 0.4%, S&P 500 0.4%, Nasdaq 0.6%

(Updates to close)
By Caroline Valetkevitch
NEW YORK, June 13 (Reuters) - U.S. stocks rose on Thursday
after two days of declines, as energy shares rebounded with oil
on concerns of a supply disruption following attacks on two
tankers in the Gulf of Oman.
U.S. Secretary of State Mike Pompeo said the United States
has assessed that Iran is responsible for the attacks, which
occurred near Iran and the Strait of Hormuz, through which a
fifth of global oil consumption passes. Oil futures settled more than 2% higher, while the S&P 500
energy index .SPNY gained 1.3%, the most of the 11 major
sectors.
"We're meandering here with strength in the oil sector
because that's where the market-moving news is today," said
Bucky Hellwig, senior vice president at BB&T Wealth Management
in Birmingham, Alabama.
While the gains in energy shares helped the market, the
tanker attacks added to potential worries for investors.
"There are still concerns over geopolitical risk," said
Quincy Krosby, chief market strategist at Prudential Financial
in Newark, New Jersey.
Stocks have had a strong run in June so far on hopes the
Federal Reserve will act to counter a slowing global economy due
to the escalating trade war with China. The benchmark S&P 500
index is up about 5% so far for the month.
But caution ahead of the Fed meeting next week and the Group
of 20 summit at the end of the month limited the day's advance.
Markets have been anticipating an interest rate cut at some
point this year.
"The market is waiting to hear from the Fed... and whether
they will deviate at all from their latest stance - and I call
it an active dovish position - and to see if they continue to
lay the groundwork for a rate cut perhaps later in the summer,"
Krosby said.
The Dow Jones Industrial Average .DJI rose 101.94 points,
or 0.39%, to 26,106.77, the S&P 500 .SPX gained 11.8 points,
or 0.41%, to 2,891.64 and the Nasdaq Composite .IXIC added
44.41 points, or 0.57%, to 7,837.13.
Walt Disney Co DIS.N shares gained 4.4%, giving the S&P
500 its biggest boost, after Morgan Stanley raised its forecast
for Disney Plus subscriber growth.
On the trade front, there were doubts of any improvement in
what President Donald Trump called "testy" trade relations with
China in the run-up to the G20.
Several companies including furniture chain RH RH.N cited
the potential impact of higher tariffs on their businesses in
reports after the bell Wednesday, though RH said it has taken
steps to mitigate the impact of tariffs and raised its outlook
for the year.
Twitter Inc shares TWTR.N fell 3.1% after brokerage
Moffett Nathanson said it expects the social media company's
costs to rise and revenue growth to slow.
Advancing issues outnumbered declining ones on the NYSE by a
2.66-to-1 ratio; on Nasdaq, a 2.23-to-1 ratio favored advancers.
The S&P 500 posted 31 new 52-week highs and one new low; the
Nasdaq Composite recorded 58 new highs and 64 new lows.
Volume on U.S. exchanges was 5.99 billion shares, compared
to the 6.87 billion average for the full session over the last
20 trading days.