US STOCKS SNAPSHOT-Wall St cuts gains after data, Bernanke

NEW YORK, March 3 (Reuters) - U.S. stocks cut gains on Tuesday following cautious comments from Federal Reserve chairman Ben Bernanke on the economy's prospects and a report that showed further deterioration in housing.

* In remarks prepared for testimony before a Congressional panel, Bernanke said labor market conditions may be uncertain. For details see [ID:nWEQ000736]

* Even so, a search for-beaten down shares underpinned the market a day after Wall Street slid to a 12-year low. Major indexes had risen more than 1 percent.

* The Dow Jones industrial average .DJI gained 39.99 points, or 0.59 percent, to 6,803.28. The Standard & Poor's 500 Index .SPX added 5.45 points, or 0.78 percent, to 706.27. The Nasdaq Composite Index .IXIC rose 12.20 points, or 0.92 percent, to 1,335.05. (Reporting by Rodrigo Campos; Editing by James Dalgleish)