US STOCKS-Wall St climbs on European data and energy

                                
 
                                
 * Euro jumps on upbeat industrial data, short-covering
                                
 * Obama to press BP for escrow account for damage claims
                                
 * Dow up 0.9 pct; S&P up 1.1 pct; Nasdaq up 1.4 pct
                                
 * For up-to-the-minute market news see [STXNEWS/US]
 (Updates to midday, changes byline)
                                
 By Caroline Valetkevitch
                                
 NEW YORK, June 14 (Reuters) - U.S. stocks climbed on
Monday as European industrial data eased concerns about a
slowdown in global growth and rising oil prices lifted energy
shares.
                                
 For the past few months, worries about debt problems in
Greece and other European nations have weighed on the U.S.
stock market on concerns that the euro zone's fiscal problems
could hamper a global economic recovery.
                                
 The data spurred demand for shares of U.S. companies that
rely on overseas sales, with the euro <EUR=> gaining 1.5
percent to hit $1.2295 -- a session high against the dollar.
Heavy equipment maker Caterpillar Inc <CAT.N> advanced 3.6
percent to $62.38.
                                
 Investors scooped up chip makers' stocks and that helped
push the Nasdaq up more than 1 percent. Technology bellwether
Intel Corp <INTC.O> up 2.3 percent at $21.12, while an index
of semiconductor shares <.SOXX> also rose 2.3 percent.
                                
 The rally on Wall Street follows strong advances in
European and Asian stock markets, as well as the S&P 500's 2.5
percent gain for last week. The S&P 500 is still down about
9.3 percent from its April 23 closing high for the year.
                                
 Euro-zone industrial output surged in April, achieving the
biggest year-on-year percentage gain in almost two decades.
For details, see [ID:nLDE65D0YC]
                                
 "I think that surprised global traders that the industrial
side of Europe was stronger than expected," said Fred Dickson,
chief market strategist of D.A. Davidson & Co. in Lake Oswego,
Oregon.
                                
 The Dow Jones industrial average <.DJI> was up 96.02
points, or 0.94 percent, at 10,307.09, after briefly rising
more than 1 percent. The Standard & Poor's 500 Index <.SPX>
was up 11.57 points, or 1.09 percent, at 1,103.17. The Nasdaq
Composite Index <.IXIC> was up 32.07 points, or 1.43 percent,
at 2,275.67.
                                
 U.S. crude oil futures <CLc1> climbed $1.85, or 2.5
percent, to $75.53 per barrel after the European industrial
production data helped renew optimism about a recovery and
increased demand for fuel.
                                
 The S&P energy sector <.GSPE> gained 1.3 percent, while
Chevron Corp <CVX.N> up 1.6 percent at $75.26.
                                
 The S&P 500 was trading just above the psychologically key
1,100 level, and just below 1,108, its 200-day moving
average.
                                
 SanDisk Corp <SNDK.O> jumped 7.5 percent to $47.95 after
financial weekly Barron's, citing an analyst, said the stock
could soar on a boom in demand for flash memory. For details,
see [ID:nN13141885]
                                
 BP Plc's U.S.-traded shares <BP.N> continued their slide,
falling 7.7 percent at $31.34.
                                
 U.S. President Barack Obama plans to press the company to
set up an escrow account to pay damage claims by individuals
and businesses hurt by BP's oil spill in the U.S. Gulf of
Mexico. The British company said the cost of the spill hit
$1.6 billion.
 (Reporting by Caroline Valetkevitch; Additional reporting by
Rodrigo Campos; Editing by Jan Paschal)