CORRECTED-US STOCKS-Wall Street recovers from Monday rout on tech, financial support

(Corrects paragraph 11 to say Xerox "forecast" 2020 profit, not
"reported")
* Apple gains 1% ahead of earnings
* 3M slips on downbeat 2020 profit forecast
* Indexes up: Dow 0.43%, S&P 0.72%, Nasdaq 0.81%

By Sruthi Shankar
Jan 28 (Reuters) - U.S. stocks rose on Tuesday as gains in
technology and financial shares helped major indexes recover
from their worst selloff in about four months on worries over a
coronavirus outbreak and its impact on global growth.
Markets across the world stabilized as the head of the World
Health Organization (WHO) said he was confident in China's
ability to contain the virus outbreak, which has killed 106
people, prompted businesses to close operations and curbed
travel. "Some of the comments coming out of the WHO and other
medical advisers are helping markets catch a breath after
yesterday's decline which was somewhat overdone," said Peter
Cardillo, chief market economist at Spartan Capital Securities
in New York.
Investors will keep a close watch on Apple Inc's AAPL.O
results, due after markets close, amid concerns of a disruption
in iPhone production as the coronavirus spreads across major
markets like China. Its shares were up 1.2%, providing the biggest boost to the
main indexes, after falling about 3% on Monday.
The broader S&P technology index .SPLRCT rose 1.1%, while
financial stocks .SPSY also gained by a similar margin as big
banks rebounded.
Helping the sentiment, a U.S. Conference Board's consumer
confidence index rose to a better-than-expected 131.6 points in
January. At 10:22 a.m. ET, the Dow Jones Industrial Average .DJI
rose 0.43% to 28,658.14.
The S&P 500 .SPX gained 0.72% at 3,266.84 and the Nasdaq
Composite .IXIC was up 0.81% at 9,213.74.
Earnings reports were mixed, with U.S. industrial giant 3M
Co MMM.N sliding 4.7% after it forecast 2020 profit below
expectations as it faced sluggish demand in Asia. Shares in Xerox Holdings Corp XRX.N , known for its
photocopiers and printers, jumped 5.1% after it forecast 2020
profit above Wall Street expectations.
Earnings are now expected to show a decline of 0.5% for the
fourth quarter, according to Refinitiv data. Of the 87 companies
that have reported through Monday, 67.8% have topped
expectations, lagging the average rate of 74% from the past four
quarters.
Pfizer Inc PFE.N fell 3.4% after the drugmaker reported a
lower-than-expected quarterly profit and a decline in revenue as
sales of its off-patent pain treatment Lyrica more than halved.
Advancing issues outnumbered decliners by a 3.37-to-1 ratio
on the NYSE and a 3.02-to-1 ratio on the Nasdaq.
The S&P index recorded 19 new 52-week highs and three new
lows, while the Nasdaq recorded 44 new highs and 24 new lows.