LIVE MARKETS-War de-escalation hopes, solid data help investors reclaim their risk appetite

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WAR DE-ESCALATION HOPES, SOLID DATA HELP INVESTORS RECLAIM THEIR RISK APPETITE

Stocks rebounded on Wednesday as buyers returned to the market, their risk-on sentiment buoyed by reports that Iranian intelligence operatives reached out to the CIA about potential de-escalation of a war that's still less than a week old.

All three major U.S. stock indexes ended higher, and the S&P 500 closed above its 100-day moving average, the day after a broad selloff dragged the bellwether index below that key support level for the first time since November.

The Dow Jones Industrial Average .DJI rose 237.71 points, or 0.49%, to 48,738.98, the S&P 500 .SPX gained 52.83 points, or 0.78%, to 6,869.46 and the Nasdaq Composite .IXIC gained 290.79 points, or 1.29%, to 22,807.48.

Retail .SPXRT, consumer discretionary .SPLRCD and chip stocks .SOX were the clear outperformers, advancing between 1.9% and 2.9% on the day. Commercial airlines .SPCOMAIR and energy stocks .SPNY were the laggards, dropping 1.4% and 0.7%, respectively.

Speaking of chips, Broadcom AVGO.O, the last of the big tech players to report this season, posts results after the bell. Analysts expect year-on-year earnings growth of 26.7% on revenue of $19.18 billion, according to LSEG data.

The company's shares advanced 1.2% ahead of the report.

The rally found solid footing after a wobbly start, gaining strength after the Institute for Supply Management's non-manufacturing PMI report showed the expansion of U.S. services sector unexpectedly gathered momentum in February, sending the index to more than a 3-1/2-year high. This followed data from ADP suggesting the economy added more private sector jobs last month that economists anticipated.

On Thursday, aside from import prices, economic data is focused on the labor market. Challenger Gray & Christmas will offer its February layoffs report, with Q4 labor costs/productivity and weekly jobless claims setting the table for the always hotly anticipated jobs report on Friday.

Economists polled by Reuters predict the U.S. economy added 59,000 jobs last month, with the unemployment rate holding steady at 4.3%.

Here's your closing snapshot:

(Stephen Culp)

EARLIER ON LIVE MARKETS:

US STOCKS' REACTION SO FAR TO CONFLICT SHOWS DESIRE TO "LOOK THROUGH IT" CLICK HERE

WHAT TO EXPECT FROM S&P 500'S QUARTERLY REBALANCING DUE LATER THIS WEEK CLICK HERE

HUMP DAY INDICATORS: ADP, SERVICES PMI, MORTGAGE DEMAND CLICK HERE

WALL ST TRIES FOR REBOUND AS WAR WORRIES SHOW SIGNS OF ABATING CLICK HERE

BROADCOM ONE OF THE LAST KEY REPORTS STILL DUE CLICK HERE

EUROPE'S MIXED BAG CLICK HERE

EUROPEAN BEVERAGES: LOW DIRECT MIDDLE EAST EXPOSURE, SENSITIVITIES ELSEWHERE CLICK HERE

EXTREME STRENGTH IN THE ENERGY SECTOR, BUT INSIDERS SELL - SENTIMENTRADER CLICK HERE

STOXX TAKES A BREATHER, HELPED BY TECH, DEFENSIVES CLICK HERE

EUROPE BEFORE THE BELL: TENTATIVE STABILISATION, SPAIN DOWN CLICK HERE

STOCKS DUMP MORE ON OIL SHOCK FEARS CLICK HERE