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* Sept consumer confidence data expected at 10:00 a.m. ET
* Trade-sensitive chip stocks gain
* Apple biggest boost to the three main indexes
* Indexes up: Dow 0.36%, S&P 0.37%, Nasdaq 0.43% (Updates to open)
By Ambar Warrick and Medha Singh
Sept 24 (Reuters) - U.S. stocks rose on Tuesday, lifted by technology shares, after Washington confirmed that trade talks with China would resume in two weeks, easing some uncertainty fueled by the cancellation of a planned U.S. farm visit by Chinese delegates last week.
Treasury Secretary Steven Mnuchin said on Monday he and Trade Representative Robert Lighthizer would meet with Chinese Vice Premier Liu He for talks in early October, while clarifying that the Trump administration had requested Chinese officials to cancel the farming trip last Friday.
News of the cancellation had caused a sharp pullback in U.S. stocks on the day.
“It’s not so much that people have become positive on (trade talks), but had taken the cancellation as a sign that the deal was in trouble, and now the administration seems to be suggesting that it’s not,” said Rick Meckler, partner, Cherry Lane Investments, a family investment office in New Vernon, New Jersey.
“The market seems to be in a pretty tight range, while they await some more concrete news about the China situation.”
The trade-sensitive Philadelphia chip index gained 0.61%. The broader technology sector rose 0.79%, with iPhone maker Apple Inc providing the biggest support.
Apple gained 1.3% after Jefferies assumed coverage with a “buy” rating, citing the company’s potential in the 5G cycle.
Even as trade talks remain the primary focus, investors will also watch out for the Conference Board’s U.S. consumer confidence reading for September that is expected to come in at 133.5, from a reading of 135.1 in August. The report is due at 10:00 a.m. ET (1400 GMT).
Data due later this week, which includes the Fed’s preferred gauge for inflation, will also offer insights into U.S. economic health ahead of the third-quarter earnings season and the central bank’s policy meeting in October.
“Markets are in this delicate period where investors don’t want too much acceleration because they are concerned that it will put an end to low interest rates but they also don’t want enough slowing to impact corporate profits,” Cherry Lane’s Meckler said.
At 9:37 a.m. ET, the Dow Jones Industrial Average was up 97.17 points, or 0.36%, at 27,047.16, the S&P 500 was up 11.12 points, or 0.37%, at 3,002.90. The Nasdaq Composite was up 34.89 points, or 0.43%, at 8,147.35.
Ten of the 11 major S&P sub-indexes were higher, with only the energy sector marginally lower.
Video streaming platform Netflix Inc fell 2.1% after Pivotal Research cut its price target.
Nike Inc rose 0.3%, ahead of the world’s largest sportswear maker’s first-quarter results after the bell.
Advancing issues outnumbered decliners by a 2.05-to-1 ratio on the NYSE and a 1.63-to-1 ratio on the Nasdaq.
The S&P index recorded 8 new 52-week highs and one new low, while the Nasdaq recorded 14 new highs and 16 new lows. (Reporting by Ambar Warrick and Medha Singh in Bengaluru; Editing by Sriraj Kalluvila)