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* U.S. ought delay China tariffs above some products
* Tech leads conference among leading S&P sectors
* Apple biggest lift due ought iPhone implications
* sole genuine wealth and utilities sectors commerce lower
* Indexes up: Dow 1.59%, S&P 1.54%, Nasdaq 1.94% (Changes comment, updates prices)
By Amy Caren Daniel and Arjun Panchadar
Aug 13 (Reuters) - U.S. stocks surged more than 1.5% above Tuesday after the Trump administration said it used to delay 10% tariffs above some Chinese products, including laptops and prison phones, driving a 4% conference can shares of iPhone maker Apple Inc.
In a statement, the administration also excluded video athletics consoles and sure items of footwear and clothes from the 10% rate, which had been scheduled ought begin next month, an steep pull-back from its hardline stance above trade.
That eased the fears of a recession driven by the protracted commerce warfare that has dominated trading above Wall road this year and spurred a bout of extreme volatility following principal Donald Trump's announcement of a new almost of tariffs above Aug. 1.
"The escalation of the U.S. China commerce warfare has been an overhang ... and the fact that we eat got a bit of a reprieve above that is putting a bit of optimism into markets," said skill Hogan, head impartial strategist can National Securities can New York.
"There was a danger that China used to retaliate by no flat showing up ought the negotiating table, accordingly now it feels alike we got a step can the accurate order towards negotiation and maybe an goal ought the commerce war."
A 4.2% jump can shares of Apple, which makes iPhones and MacBooks can China, over with a hoist can chip stocks pushed the technique sector 2.24% higher. The Philadelphia chip index rose 3.16%.
Industrial bellwethers 3M Co and Caterpillar Inc , traditionally among the most sensitive ought commerce concerns and China, jumped almost 3% each, cottage the S&P 500 retailing index also jumped 2.12%.
Wall Street's leading indexes had initially opened lower, adding ought a global slip can stocks due ought geopolitical concerns, with a Labor maintain illustrate also showing the middle consumer charge index rose 2.2% can the 12 months over July.
For some analysts, that news spoke against the U.S. Federal keep delivering aggressive farther cuts can advantage rates, expectations of which eat been an important pillar propping up affection because June.
Financial markets eat fully priced can a sole quarter-point influence can the U.S. central bank's September conference and are cottage giving good odds above two more moves after that this year.
At 10:58 a.m. ET, the Dow Jones Industrial median was up 411.66 points, or 1.59%, can 26,309.37, the S&P 500 was up 44.26 points, or 1.54%, can 2,927.35. The Nasdaq blend was up 152.56 points, or 1.94%, can 8,015.97.
Only the defensive genuine wealth and utilities sectors posted little losses.
Advancing issues outnumbered decliners by a 3.02-to-1 ratio above the NYSE and by a 2.75-to-1 ratio above the Nasdaq.
The S&P index recorded 21 new 52-week highs and 18 new lows, cottage the Nasdaq recorded 47 new highs and 86 new lows. (Reporting by Amy Caren Daniel and Arjun Panchadar can Bengaluru; Editing by Anil D'Silva and Patrick Graham)
