US STOCKS-Wall Street rebounds after biggest pullback since March

(For a live blog on the U.S. stock market, click LIVE/ or
type LIVE/ in a news window)
* Adobe rises after profit beat
* Lululemon slips after revenue misses estimates
* Indexes up: Dow 3.05%, S&P 2.48%, Nasdaq 2.52%

(Updates to open)
By Medha Singh and Devik Jain
June 12 (Reuters) - Wall Street's main indexes jumped on
Friday, recouping about half of the previous session's sharp
losses, but were still on track for their worst week in nearly
three months on fears of a rise in new coronavirus infections
and economic worries.
All the major S&P sectors rose with technology .SPLRCT and
financials .SPSY providing the biggest boost to the benchmark
index.
Boeing Co BA.N jumped 11%, as it looked to end the week 8%
lower. United Airlines Holdings Inc UAL.O , American Airlines
Group Inc AAL.O , Norwegian Cruise Line Holdings Ltd NCLH.N
jumped between 14% and 19% leading gains on the S&P 500
following sharp declines in the previous session.
"People are just taking a breather after the outright
selling yesterday, like we saw back in the dark days of February
and early March," said Ryan Giannotto, director of research at
GraniteShares ETFs in New York.
"There's always going to be more headlines about coronavirus
cases increasing, more tests increasing. That's just something
that markets, investors and companies are going to have to learn
to deal with."
On Thursday, the tech-heavy Nasdaq .IXIC ended about 5%
below its record closing high and the S&P 500 .SPX tumbled
nearly 6% as the Federal Reserve's indication to a long road to
recovery and rising COVID-19 cases in the United States cast a
pall over investors bets on a swift economic rebound.
The S&P 500 is now about 9% from its record high after being
within 5% from that level earlier this week.
The CBOE volatility index .VIX eased about 5.33 points
after jumping to its highest level since April 23.
At 10:11 a.m. ET, the Dow Jones Industrial Average .DJI
was up 766.58 points, or 3.05%, at 25,894.75, the S&P 500 .SPX
was up 74.60 points, or 2.48%, at 3,076.70. The Nasdaq Composite
.IXIC was up 238.93 points, or 2.52%, at 9,731.65.
Photoshop maker Adobe Inc ADBE.O rose 2.3% after posting a
better-than-expected quarterly profit, driven by strong demand
for its cloud software.
"The technology sector has led the way so far this year and
we think this can continue," said Stuart Rumble, investment
director at Fidelity Investments.
"Many companies and businesses are being forced to explore
new ways to conduct their businesses online, ranging from remote
working, video conferencing to online shopping and payments."
Yoga apparel maker Lululemon Athletica Inc LULU.O fell
1.9% after posting lower-than-expected quarterly results due to
coronavirus-induced store closures. Advancing issues outnumbered decliners for a 14.99-to-1
ratio on the NYSE and a 11.73-to-1 ratio on the Nasdaq.
The S&P index recorded one new 52-week high and no new low,
while the Nasdaq recorded 14 new highs and no new low.