US STOCKS-Wall Street edges higher as oil jumps after Gulf tanker attacks

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* Oil surges, top pct gainer among S&P sectors
* Twitter drops as brokerage says sees rising costs
* Indexes up: Dow 0.2%, S&P 500 0.2%, Nasdaq 0.3%

(Updates to late afternoon)
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 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 ended more than 2% higher on the day, while the
S&P 500 energy index .SPNY gained 1.1%, 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.
"Whether it happens or not, and I kind of doubt it does, but
if there's broader escalation in the Gulf, it could imply
tighter supplies temporarily," he said.
Walt Disney Co DIS.N gained 3.8%, giving the S&P 500 its
biggest boost, after Morgan Stanley raised its forecast for
Disney Plus subscriber growth.
Stocks have had a strong start to the month on hopes the
Federal Reserve will act to counter a slowing global economy due
to the escalating trade war with China, helping the benchmark
S&P 500 index climb nearly 5% so far in June.
However, investors stayed cautious ahead of the Fed meeting
next week and the G20 summit. Markets are anticipating an
interest rate cut at some point this year.
The Dow Jones Industrial Average .DJI rose 42.76 points,
or 0.16%, to 26,047.59, the S&P 500 .SPX gained 4.32 points,
or 0.15%, to 2,884.16 and the Nasdaq Composite .IXIC added
25.77 points, or 0.33%, to 7,818.49.
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 summit later in this month.
Twitter Inc shares TWTR.N fell 3.5% 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
2.33-to-1 ratio; on Nasdaq, a 2.13-to-1 ratio favored advancers.
The S&P 500 posted 31 new 52-week highs and 1 new lows; the
Nasdaq Composite recorded 54 new highs and 60 new lows.