US STOCKS-Wall Street on the rise for third day after upbeat data

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* Dow up 0.6%, S&P 1%, Nasdaq 1.4%
* Kraft Heinz slumps after pulling FY forecast
* Symantec gains on Broadcom talks report
* AMD lands Alphabet, Twitter as customers
* Lyft , Uber jump on pricing hints

(Changes comment, adds details; Updates prices)
By Medha Singh and Arjun Panchadar
Aug 8 (Reuters) - U.S. stocks surged on Thursday as
better-than-expected domestic and Chinese data as well as a
firming yuan offered some relief to investors alarmed by a week
of blow and counterblow between Beijing and Washington over
trade.
In corporate newsflow, Kraft Heinz sank 15% after it pulled
its full-year forecast and wrote down the value of several
business units by over $1 billion, capping a rough few months
for the company and making it the S&P's biggest decliner.
U.S. data pointed to a robust labor market as the number of
Americans filing applications for unemployment benefits
unexpectedly fell last week, allaying some worries about a
recession and helping U.S. Treasury yields rise.
US/
That followed better than expected export numbers out of
China and some improvement for the country's yuan currency,
whose slide over the weekend spurred Wall Street's worst day so
far this year on Monday. CNY/ "It is a little bit calmer in terms of U.S.-China rhetoric
and the focus is on better-than-feared global economic data,"
said Yousef Abbasi, global market strategist at INTL FCStone in
New York.
"It's a broad-based rally and that's a concern because you
don't want investors buying ... just to chase this market higher
if they are afraid they are missing a move."
The turbulence of the past week follows some hefty falls in
May and casts further doubt on the durability of a decade-long
rally in shares as President Donald Trump's trade war raised the
spectre of a slide back into recession.
All the main S&P sector were higher on Thursday with
technology shares .SPLRCT providing the biggest boost and
putting the S&P 500 on course for its third day of gains,
leaving it around 4% off a record closing high hit last month.
Symantec Corp SYMC.O jumped 12.6% after sources said
chipmaker Broadcom Inc AVGO.O was in advanced talks to buy the
cybersecurity company's enterprise business. Advanced Micro Devices Inc AMD.O gained 13.7% after the
chipmaker launched its second generation of its processor chip
and said that it had landed Alphabet Inc's GOOGL.O Google and
Twitter Inc TWTR.N as customers. Lyft Inc LYFT.O also advanced 3.6% after the ride hailing
service raised its outlook for the year and hinted at the end of
its cut-throat price war with Uber Technologies Inc UBER.N .
Uber, due to report after the bell and a high-profile loser
since its market launch this year, rose 6.5%. Shares of Walt Disney Co DIS.N also rose 1.3% after Credit
Suisse upgraded its shares to "outperform" with one eye on the
immiment U.S. launch of video streaming service Disney+.
At 11:13 a.m. ET, the Dow Jones Industrial Average .DJI
was up 161.46 points, or 0.62%, at 26,168.53, the S&P 500 .SPX
was up 30.13 points, or 1.04%, at 2,914.11. The Nasdaq Composite
.IXIC was up 112.50 points, or 1.43%, at 7,975.33.
Advancing issues outnumbered decliners by a 3.75-to-1 ratio
on the NYSE and by a 3.30-to-1 ratio on the Nasdaq.
The S&P index recorded 22 new 52-week highs and two new
lows, while the Nasdaq recorded 53 new highs and 60 new lows.