REFILE-US STOCKS-Wall Street higher on tech boost, trade hopes

(Corrects typo in paragraph 1)
* Micron jumps after upbeat results
* Tech boosts S&P; trade-sensitive industrials rise
* Mnuchin says U.S., China were close to trade deal - CNBC
* General Mills falls on disappointing sales
* Indexes up: Dow 0.12%, S&P 0.21%, Nasdaq 0.83%

By Shreyashi Sanyal
June 26 (Reuters) - U.S. stocks rose on Wednesday after
comments from Treasury Secretary Steven Mnuchin fueled optimism
that the United States and China were close to striking a trade
deal, while the tech sector was boosted by chipmaker Micron's
upbeat results.
"We were about 90% of the way there (with a deal) and I
think there's a path to complete this," Mnuchin said in an
interview to CNBC. Tech stocks .SPLRCT were the biggest gainers among the 11
major S&P sectors, with a 1.53% jump, while the trade-sensitive
industrial index .SPLRCI rose 0.17%.
"Any good news on trade is good news for the equity markets.
As long as the two countries are negotiating, it's a good thing
and that's what is moving markets at this time," said Paul
Nolte, portfolio manager at Kingsview Asset Management in
Chicago.
However, investors were cautious after President Donald
Trump told Fox Business Network that he would impose additional
tariffs on China if he did not reach a trade deal with Chinese
president Xi Jinping. Trump and Xi are set to meet at the Group of 20 summit in
Japan on Friday.
At 9:52 a.m. ET the Dow Jones Industrial Average .DJI was
up 31.66 points, or 0.12%, at 26,579.88 and the S&P 500 .SPX
was up 6.24 points, or 0.21%, at 2,923.62.
The Nasdaq Composite .IXIC was up 65.55 points, or 0.83%,
at 7,950.27.
Micron Technology Inc MU.O jumped 11.2%, lifting the
Philadelphia Semiconductor index .SOX 3.09% higher.
The company said it had resumed some shipments to Chinese
telecoms equipment maker Huawei Technologies Co Ltd HWT.UL and
still expected demand for its chips to recover later this year.

Also boosting the tech-heavy Nasdaq were gains in shares of
Apple Inc AAPL.O , Microsoft Corp MSFT.O and Amazon.com Inc
AMZN.O .
The S&P 500 index .SPX has gained 6.4% so far in June,
hitting a record high last week, largely on hopes that the
Federal Reserve would cut interest rates to counter the impact
of a U.S.-China trade war.
But the three main indexes fell sharply on Tuesday after Fed
Chairman Jerome Powell pushed back on pressure from Trump to cut
rates. Still, traders fully expect a rate cut from the Fed in July
and see a 25% possibility of a half-point move.
The biggest decliner among S&P 500 companies were General
Mills Inc's GIS.N shares, which slipped 8.5% after the food
packaging company missed quarterly sales estimates. Data showed new orders for key U.S.-made capital goods rose
more than expected in May and shipments increased solidly,
suggesting some stabilizing in business spending on equipment
after it fell early in the year. issues outnumbered decliners by a 1.77-to-1 ratio
on the NYSE and by a 1.69-to-1 ratio on the Nasdaq.
The S&P index recorded four new 52-week highs and one new
low, while the Nasdaq recorded 12 new highs and 36 new lows.