U.S. STOCKS - Market rebounds on tech, banks, Wal-Mart

By Ellis Mnyandu

NEW YORK (Reuters) - U.S. stocks rebounded from four days of losses on Tuesday, buoyed by a recovery in technology shares, optimism over Wal-Mart Stores Inc's solid profit and an easing of concerns about credit losses at major banks.

A sharp slide in crude oil prices below $92 a barrel also underpinned the market, easing worries about higher energy costs heading into winter and the holiday shopping season.

In the last hour of trading, stocks also got a boost from a report that showed a surprising rise in September pending home sales.

"The market is extremely oversold. We like technology," said David Levy, portfolio manager of Kenjol Capital Management in Austin, Texas. "Today you have leadership from the likes of Bank of America, Goldman and JPMorgan, all saying maybe things aren't as bad as everybody says it's going to be."

The Dow Jones industrial average was up 276.79 points, or 2.14 percent, at 13,264.34. The Standard & Poor's 500 Index was up 35.17 points, or 2.44 percent, at 1,474.35. The Nasdaq Composite Index was up 78.94 points, or 3.05 percent, at 2,663.07.

Apple Inc led the tech sector's rebound following news that the company was talking to China Mobile Ltd, the world's largest wireless carrier, about offering its iPhones in China.

Apple shares surged 10.5 percent to $169.89 on the Nasdaq.

The Nasdaq's second-biggest advancer was BlackBerry maker Research In Motion Ltd, whose stock gained almost 9 percent to $111.72.

Financials rallied on the back of comments from Goldman Sachs Group Inc Chief Executive Lloyd Blankfein, who said at an industry conference that the investment bank expected no significant asset write-downs.

Goldman shares jumped 8 percent to $231.75 on the NYSE, while those of Citigroup Inc, the biggest U.S. bank, advanced 6.8 percent to $35.84.

Wal-Mart shares gained 6.4 percent to $46.09 after the world's biggest retailer posted a stronger-than-expected quarterly profit and raised its outlook.

U.S. crude oil futures fell $3.45, or 3.7 percent, to settle at $91.17 per barrel in New York after an international agency forecast lower growth in world oil demand.