US STOCKS-Wall Street climbs on boost from financials, tech stocks

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* Nio falls on temporary production suspension
* L Brands hits over 4-year high on forecast boost
* Indexes up: Dow 0.46%, S&P 0.48%, Nasdaq 0.36%

(Updates to open)
By Devik Jain and Medha Singh
March 26 (Reuters) - U.S. stock indexes broadly rose on
Friday, with technology and financial shares providing the
biggest boost as investors bet on what is expected to be the
fastest economic growth since 1984.
The S&P 500 and the Dow were set to end a choppy week higher
as an end-of-quarter rebalancing of investment portfolios led to
alternating boost from stocks that stand to benefit from a
re-opening economy, and beaten-down technology shares.
The S&P 500 value index .IVX , which includes energy, banks
and industrial stocks, has gained more than 9% this year, easily
outperforming growth .IGX shares, which are down 0.4%.
"Investors are thinking about an economic recovery over the
balance of the year and are taking a step back to evaluate
valuations, fundamentals and some of the macro economic
drivers," said Brian Vendig, managing executive at MJP Wealth
Advisors in Westport, Connecticut.
"You have people trying to get back to work, you have checks
in hand to consumers and you have other policy measures that are
coming to support the economic reopening."
L Brands LB.N jumped about 6% after the Victoria's Secret
owner raised its current-quarter profit forecast for the second
time this month as it benefits from consumers spending their
stimulus checks and relaxation of COVID-19 restrictions.
Wall Street's main indexes rebounded in late-day rally on
Thursday as weekly jobless claims hit their lowest level since
the COVID-19 pandemic began and President Joe Biden highlighted
the brightening economic outlook.
Bank stocks .SPXBK added 1.3% as the U.S. Federal Reserve
said it would lift income-based restrictions on bank dividends
and share buybacks for "most firms" in June after its next round
of stress tests. Energy stocks .SPNY jumped 1.4%, tracking a boost in crude
prices after a giant container ship blocking the Suez Canal
spurred fears of supply squeeze. O/R
Nine of the 11 major S&P sectors rose with utilities
.SPLRCU and consumer staples .SPLRCS in the red.
At 10:00 a.m. ET, the Dow Jones Industrial Average .DJI
was up 150.22 points, or 0.46%, at 32,769.70, the S&P 500 .SPX
was up 18.76 points, or 0.48%, at 3,928.28, and the Nasdaq
Composite .IXIC was up 46.73 points, or 0.36%, at 13,024.41.
Nio Inc NIO.N slumped about 6% as the Chinese electric
vehicle maker said it would halt production for five working
days at its Hefei plant due to a shortage in semiconductor
chips. Latest data showed U.S. consumer spending fell by the most
in 10 months in February as a cold snap gripped many parts of
the country and the boost from a second round of stimulus checks
faded, though the decline is likely to be temporary.
Advancing issues outnumbered decliners by a 3.47-to-1 ratio
on the NYSE, and by a 1.99-to-1 ratio on the Nasdaq.
The S&P index recorded 21 new 52-week highs and no new low,
while the Nasdaq recorded 33 new highs and nine new lows.