US STOCKS-Wall St rises after China data boosts optimism

                                
   * China exports unofficially top expectations
                                
 * Texas Instruments sees results at high end of forecast
                                
 * Indexes up: Dow, S&P, Nasdaq all up 0.5 pct
                                
 * For up-to-the-minute market news see [STXNEWS/US]
  (Updates to midmorning)
                                
 By Chuck Mikolajczak
                                
 NEW YORK, June 9 (Reuters) - Wall Street advanced on
Wednesday after unofficial data showed Chinese exports topped
expectations, boosting hopes for a global recovery.
                                
 Chinese exports jumped about 50 percent in May from a year
earlier, sources told Reuters. The surge would suggest the risk
of a Chinese economic downturn is very small. The report, which
will be officially released Thursday, fueled a rise in global
markets. For details, see [ID:nTOE65805R]
                                
 "Everybody was worried because China has been the leading
engine of the world economy, and a few months ago when the
Chinese government put the brakes on it, that meant putting the
brakes on the world economy," said Keith Springer, president of
Capital Financial Advisory Services in Sacramento, California.
                                
 "Now that it looks like the government feels like they
slowed the economy down enough and they are going to allow more
growth to come back into their economy, people are
optimistic."
                                
 The Dow Jones industrial average <.DJI> gained 48.60
points, or 0.49 percent, to 9,988.58. The Standard & Poor's 500
Index <.SPX> rose 5.53 points, or 0.52 percent, to 1,067.53.
The Nasdaq Composite Index <.IXIC> climbed 11.42 points, or
0.53 percent, to 2,181.99.
                                
 In testimony prepared for delivery to the U.S. House of
Representatives Budget Committee, Federal Reserve Chairman Ben
Bernanke said the economic recovery appeared to be on solid
footing but cautioned that it could take years before the labor
market recovers from the deep recession. [ID:nWAL9HE68B]
                                
 Texas Instruments Inc <TXN.N> added 1.4 percent to $24.22
after the chipmaker said second-quarter earnings and revenue
would be at the high end of its forecast on strong broad-based
demand, particularly from industrial customers.
[ID:nN08218836]
                                
 The PHLX Semiconductor index <.SOXX> gained 1 percent.
                                
 Ciena Corp <CIEN.O> jumped 7.7 percent to $14.91 after the
communications equipment maker said its second-quarter loss was
narrower than expected and that customer spending was
recovering. [ID:nN09122731]
                                
 The Fed's Beige Book summary of economic conditions around
the United States will be released at 2 p.m. EDT (1800 GMT)
  (Reporting by Chuck Mikolajczak; editing by Jeffrey Benkoe)