US STOCKS-Wall St gains on rate-cut hopes; tech leads rebound

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* Powell says Fed to act "as appropriate" to trade war risks
* Nine of 11 major S&P sectors trading higher
* Financials gain as Treasury yields rise
* Indexes up: Dow 0.99%, S&P 0.84%, Nasdaq 0.96%

(Updates to open)
By Medha Singh and Amy Caren Daniel
June 4 (Reuters) - U.S. stocks rose on Tuesday, led by a
rebound in the battered technology sector, as Federal Reserve
Chair Jerome Powell's said the central bank would act "as
appropriate" to trade war risks, leaving the door open for a
possible rate cut.
A day after St. Louis Fed chief James Bullard said a rate
cut may be warranted soon, Powell said the Fed was "closely
monitoring the implications" of a trade dispute that has
disrupted global markets and posed risks to growth. Wall Street's main indexes have shed more than 6 percent in
May on fears of a recession as trade tensions between the United
States and China show little signs of easing.
"His comments are not as aggressively dovish as Bullard's
yesterday but he does reiterate the same concerns: trade
tensions and low inflation," said John Doyle, vice president of
dealing and trading, Tempus Inc, Washington D.C.
"We are likely seeing the beginning of coordinated Fed-speak
to prep market participants for at least one rate cut this
year."
Also lifting the sentiment on Tuesday were comments from
Mexico and China.
Mexican President Andres Manuel Lopez Obrador said he
expects to reach a deal with the U.S. over immigration before
Washington carries out its threat to enact punitive tariffs.
China's commerce ministry said the differences and frictions
with Washington should be resolved through dialogue and
negotiations.
The technology sector .SPLRCT , which has taken a hit from
fears of increased regulatory scrutiny, rose 1.32% and provided
the biggest boost to the markets.
High-profile technology companies - Amazon.com AMZN.O ,
Apple Inc AAPL.O , and Google-parent Alphabet Inc GOOGL.O -
were up between 0.4% and 1%.
As of Friday's close, the Nasdaq has lost 10.2% since its
May 3 all-time high, confirming a correction territory, while
the S&P 500 is 7.6% away from its record high hit on May 1.
At 10:12 a.m. ET the Dow Jones Industrial Average .DJI was
up 245.72 points, or 0.99%, at 25,065.50, the S&P 500 .SPX was
up 23.04 points, or 0.84%, at 2,767.49 and the Nasdaq Composite
.IXIC was up 70.57 points, or 0.96%, at 7,403.59.
Interest rate sensitive financial stocks .SPSY gained
1.38%, the most among the nine major S&P sectors trading higher
as U.S. Treasury yields rose.
Advancing issues outnumbered decliners by a 3.37-to-1 ratio
on the NYSE and by a 2.70-to-1 ratio on the Nasdaq.
The S&P index recorded 21 new 52-week highs and one new low,
while the Nasdaq recorded 22 new highs and 36 new lows.