US STOCKS-Wall St bounces back; technology, industrials lead


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    * Facebook, Microsoft, Amazon hit record highs
    * Microsoft's market cap above $800 bln
    * CA shares surge on Broadcom's buyout deal
    * Industrials gain after Wednesday's slide
    * Indexes up: Dow 0.9 pct, S&P 0.9 pct, Nasdaq 1.4 pct

 (Updates to close)
    By Caroline Valetkevitch
    NEW YORK, July 12 (Reuters) - U.S. stocks climbed on
Thursday as top technology names hit record highs and
industrials rebounded from losses driven by trade worries the
day before.
    Helping the move in tech, CA Inc  CA.O  jumped 18.7 percent
and was the biggest percentage gainer in the S&P 500 after
chipmaker Broadcom  AVGO.O  announced a surprise $18.9-billion
deal to buy the business software company. Broadcom slumped 13.7
    Facebook  FB.O , Microsoft  MSFT.O  and Amazon  AMZN.O  hit
all-time highs and, along with Apple  AAPL.O  and Alphabet
 GOOGL.O , drove gains in the S&P 500 and Nasdaq.
    The technology index  .SPLRCT  rose 1.8 percent, the day's
best-performing sector, and the group is now leading
year-to-date gains among sectors. The S&P industrials index
 .SPLRCI  rose 1.1 percent. Health care  .SPXHC  also gained
about 1.1 percent.
    Helping the tech sector is the view that those companies may
be more immune to problems in the trade dispute, said Quincy
Krosby, chief market strategist at Prudential Financial in
Newark, New Jersey.
    But also, she said, "The consensus is that negotiations will
resume and there will be some sort of agreement between the U.S.
and China. It could be naive, but that seems to be an emerging
consensus within the market."
    The United States late Tuesday threatened to impose tariffs
on $200 billion worth of Chinese goods. China said on Thursday
the two countries have not been in touch about restarting talks
and while it does not want a trade war, it would fight if
    Boeing  BA.N  and Caterpillar  CAT.N , among the hardest hit
by the trade dispute, rose more than 1 percent each on Thursday,
boosting the Dow.
    The Dow Jones Industrial Average  .DJI  rose 224.44 points,
or 0.91 percent, to 24,924.89, the S&P 500  .SPX  gained 24.27
points, or 0.87 percent, to 2,798.29 and the Nasdaq Composite
 .IXIC  added 107.31 points, or 1.39 percent, to 7,823.92.
    The stock market value of Microsoft, which jumped 2.2
percent to $104.19, also rose above $800 billion for the first
time, joining Apple, Amazon and Alphabet in that $800 billion
club and putting it in line as a contender to be the first U.S.
company to reach a $1 trillion market cap.    
    Earnings will take center stage Friday, when some big Wall
Street banks, including JPMorgan Chase  JPM.N , report results.
S&P 500 companies overall are expected to post second-quarter
profit growth of around 21 percent, according to Thomson Reuters
    Delta Air Lines  DAL.N  rose 1.8 percent, and lifted other
airline stocks, after the carrier's quarterly profit topped
estimates on higher average fares.*:nL4N1U845D
    In a sign that labor market conditions remained robust in
early July, weekly jobless claims hit a two-month low last week,
the Labor Department said.*:nLNSCIEEGH
    The consumer price index barely rose in June, but the
underlying trend continued to point to a steady buildup of
inflation pressure that could keep the Federal Reserve on a path
of gradual interest rate increases.*:nL1N1U71L6
    Advancing issues outnumbered declining ones on the NYSE by a
1.75-to-1 ratio; on Nasdaq, a 1.44-to-1 ratio favored advancers.
    The S&P 500 posted 36 new 52-week highs and three new lows;
the Nasdaq Composite recorded 101 new highs and 43 new lows. 
    About 5.8 billion shares changed hands on U.S. exchanges.
That compares with the 6.9 billion daily average for the past 20
trading days, according to Thomson Reuters data.

The race to $1 trillion
 (Additional reporting by Amy Caren Daniel in Bengaluru
Editing by Nick Zieminski and Chris Reese)
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