US STOCKS-Tech stocks power Wall Street's recovery from trade-led selloff

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* Six of the 11 major S&P sectors post 1% gain
* Tech stocks rally, led by Microsoft, Apple
* Boeing provides biggest boost to the Dow
* Ralph Lauren declines on weak N.America sales
* Indexes up: Dow 1.16%, S&P 1.20%, Nasdaq 1.43%

(Updates to early afternoon)
By Sruthi Shankar and Amy Caren Daniel
May 14 (Reuters) - U.S. stock indexes rebounded on Tuesday
from one of their worst selloffs in 2019, as investors saw value
in technology stocks that took a hit on Monday from heightened
trade tensions between the United States and China.
Investors took relief from reconciliatory comments by both
sides. While China said it will the keep talks going, U.S.
President Donald Trump said he would talk with his Chinese
counterpart at a G20 Summit in late June.
Technology shares .SPLRCT , which posted their biggest
daily percentage loss in more than four months, rose 1.9%,
lifted by gains in Microsoft Corp MSFT.O , Apple Inc V.N and
chipmakers.
"We're seeing trade optimism from semi-market friendly
tweets from Trump. If we're still talking then it means that a
deal could be done soon," said Jerry Lucas, senior trading
strategist at UBS Global Wealth Management.
"We're in a highly uncertain period right now, and the
market is going to oscillate between good and bad days."
Prospects of the global economy being derailed by the United
States and China sliding into a fiercer, more protracted dispute
has knocked more than 4% off the S&P 500 since hitting an
all-time high on May 1.
At 12:56 p.m. ET the Dow Jones Industrial Average .DJI was
up 294.10 points, or 1.16%, at 25,619.09, the S&P 500 .SPX was
up 33.78 points, or 1.20%, at 2,845.65 and the Nasdaq Composite
.IXIC was up 109.44 points, or 1.43%, at 7,756.47.
Nine of the 11 major S&P sectors were higher, with
technology, energy, industrial, material, consumer discretionary
and financial sectors gaining more than 1%.
Boeing Co shares BA.N were up 2%, providing the biggest
boost to the Dow. The company said it handed over 24% fewer jet
airplanes in the first four months of 2019, hurt by the
grounding of its 737 MAX aircraft. Coca-Cola Co's shares KO.N rose 1.8% after Morgan Stanley
upgraded the stock to "overweight", saying higher growth had not
been priced into the stock's valuation. Walt Disney Co's shares DIS.N gained 2.2% after it signed
a pact with Comcast Corp CMCSA.O to assume full operational
control of streaming service Hulu. Luxury apparel maker Ralph Lauren Corp's shares fell RL.N
5.7%, the most on the S&P 500, as weak sales in its biggest
market, North America, overshadowed quarterly profit beat.
Advancing issues outnumbered decliners by a 3.51-to-1 ratio
on the NYSE and a 2.70-to-1 ratio on the Nasdaq.
The S&P index recorded 17 new 52-week highs and six new
lows, while the Nasdaq recorded 36 new highs and 75 new lows.