US STOCKS-S&P 500 and Nasdaq set to snap six-day losing streak

* Indexes up: Dow 0.24%, S&P 0.32%, Nasdaq 0.42%
* Tech stocks biggest boost to the three indexes
* Nine of the 11 S&P sectors higher
* Take-Two jumps after FY revenue forecast raise
* Mosaic tumbles after lowering FY profit forecast
* Walt Disney up ahead of results

(Updates to early afternoon)
By Medha Singh
Aug 6 (Reuters) - U.S. stocks rose on Tuesday as China
stepped in to stabilize the yuan, soothing concerns that
currencies would be the latest weapon in the long-drawn trade
war, a day after Wall Street suffered their sharpest one-day
percentage drops of the year.
China's overnight intervention came after the U.S. Treasury
Department labeled Beijing as a currency manipulator as it let
the yuan slide to a more than decade low on Monday.
A steep fall in the Chinese currency had led the benchmark
S&P 500 .SPX and Nasdaq .IXIC record their sixth straight
session of declines, losing at least 3% each in the previous
session. China's move to fix the yuan at a slightly stronger rate and
White House economic adviser Larry Kudlow's comment that
President Donald Trump was planning to host a Chinese delegation
for further talks in September allayed fears of a further
escalation in trade war. The S&P 500, still reeling from last week's shock when
President Donald Trump vowed to slap a 10% tariff on a further
$300 billion in Chinese imports, is 5.6% away from its all-time
high hit last month.
"Both sides are at that point where they must go back and
renegotiate," said Kim Forrest, chief investment officer at
Bokeh Capital Partners in Pittsburgh.
"Yesterday's big drop off has allowed bargain hunters to
find bargains."
The technology sector .SPLRCT , which includes companies
that have a big exposure to China and were at the heart of
Monday's selloff, rose 0.68%.
Apple Inc AAPL.O gained 0.8% after three days of heavy
losses, while Philadelphia Semiconductor index .SOX edged
0.40% higher.
At 12:55 p.m. ET, the Dow Jones Industrial Average .DJI
was up 61.05 points, or 0.24%, at 25,778.79, the S&P 500 .SPX
was up 9.12 points, or 0.32%, at 2,853.86. The Nasdaq Composite
.IXIC was up 32.53 points, or 0.42%, at 7,758.57.
Among other stocks, Take-Two Interactive Software Inc
TTWO.O jumped 9.5% after the videogame publisher raised its
full-year revenue forecast. The materials sector .SPLRCM dropped 1%, weighed by a more
than 13% fall in scent and flavor maker International Flavors &
Fragrances IFF.N and fertilizer company Mosaic Co MOS.N
after the two companies cut their full-year earnings forecasts.
Payments processor Mastercard Inc MA.N gained 2.1% after
it said it would buy a majority of the corporate services
businesses of Scandinavian payments group Nets for about $3.19
billion. Walt Disney Co DIS.N was up 0.8% ahead of its results
after market close.
Advancing issues outnumbered decliners by a 1.20-to-1 ratio
on the NYSE and by a 1.03-to-1 ratio on the Nasdaq.
The S&P index recorded two new 52-week highs and 23 new
lows, while the Nasdaq recorded 17 new highs and 166 new lows.