US STOCKS-Wall St rebounds, up 1% after China moves on yuan

* Tech stocks biggest boost to S&P 500
* Take-Two jumps after FY revenue forecast raise
* Indexes up: Dow 1.0%, S&P 500 1.1%, Nasdaq 1.3%

(Updates to late afternoon, changes byline, dateline)
By Caroline Valetkevitch
NEW YORK, Aug 6 (Reuters) - U.S. stocks jumped more than 1
percent on Tuesday, bouncing back from a sharp sell-off the
previous day as China stepped in to stabilize the yuan, easing
concerns that currencies would be the latest weapon in the trade
war.
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.
"It's a signal from the Chinese side that they want to keep
the yuan steady and elevated. But it also indicates how quickly
things can change. That's permeating the tone in the market, and
it's one of the reasons there remains that sense of
trepidation," said Quincy Krosby, chief market strategist at
Prudential Financial in Newark, New Jersey.
On Monday, U.S. stocks suffered their sharpest one-day
percentage drop of the year after a steep fall in the Chinese
currency, with the S&P 500 .SPX and Nasdaq .IXIC losing at
least 3% each in the 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 the trade war. The technology sector .SPLRCT , which includes companies
that have a big exposure to China and were at the heart of
Monday's sell-off, provided the biggest boost to the S&P index,
rising 1.52%.
The Dow Jones Industrial Average .DJI rose 248.89 points,
or 0.97%, to 25,966.63, the S&P 500 .SPX gained 31.23 points,
or 1.10%, to 2,875.97 and the Nasdaq Composite .IXIC added
100.77 points, or 1.3%, to 7,826.81.
The S&P 500 had been reeling from last week's shock when
Trump vowed to slap a 10% tariff on a further $300 billion in
imports from China.
Apple Inc AAPL.O gained 1.7% after three days of heavy
losses, while the Philadelphia Semiconductor index .SOX edged
1.34% higher.
Among other stocks, Take-Two Interactive Software Inc
TTWO.O jumped 8.8% after the videogame publisher raised its
full-year revenue forecast. Advancing issues outnumbered declining ones on the NYSE by a
1.87-to-1 ratio; on Nasdaq, a 1.53-to-1 ratio favored advancers.
The S&P 500 posted five new 52-week highs and 24 new lows;
the Nasdaq Composite recorded 20 new highs and 189 new lows.