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Airbnb ( ABNB ) slides after forecasting Q3 revenue below estimates

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Fortinet ( FTNT ) jumps on FY revenue forecast raise

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Charles River slides after cutting FY forecasts

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Indexes up: S&P 500 1.36%, Nasdaq 1.64%, Dow 0.9%

(Updated at 11:22 a.m. ET/1322 GMT)

By Shubham Batra and Shashwat Chauhan

Aug 7 (Reuters) - Wall Street's main indexes advanced on

Wednesday, aided by gains in megacap stocks and a dovish turn by

Japan's top policymaker after a surprise interest rate hike last

week that partly sparked heavy volatility in global markets.

Most technology stocks notched gains of at least 2%, with

Amazon.com ( AMZN ) leading the charge, rising 2.6%. Tesla

, however, dipped nearly 1%.

All major S&P sectors were trading higher, with information

technology and energy leading the gains.

"Many investors are sitting on big gains in tech stocks ...

so it's important for investors to right size their risk," said

Michael Landsberg, chief investment officer at Landsberg Bennett

Private Wealth Management.

"We expect this volatility to continue for a bit longer."

The CBOE Volatility index, also known as Wall

Street's fear gauge, declined to 23.09 points, from a high of

65.73 on Monday.

A surprise rate hike by the BOJ on July 31 to a level unseen

in 15 years had sparked a global stocks rout as investors

unwound their sharp yen carry trade positions following a surge

in the low-yielding currency, widely used for acquiring

high-yielding assets.

On Wednesday, global equity markets extended their rebound

after Bank of Japan (BOJ) Deputy Governor Shinichi Uchida said

the central bank would not raise rates when financial markets

are unstable, pushing the yen lower and boosting

market sentiment.

At 11:22 a.m. ET, the Dow Jones Industrial Average

rose 350.48 points, or 0.90%, to 39,348.14, the S&P 500

gained 71.02 points, or 1.36%, to 5,311.05 and the Nasdaq

Composite gained 268.20 points, or 1.64%, to 16,635.06.

The S&P 500 and the Nasdaq ended Tuesday more than 1% higher

as comments from Federal Reserve officials eased worries of a

U.S. recession and the spotlight shifted back to earnings.

Fortinet ( FTNT ) jumped 24.6% after the cybersecurity firm

raised its annual revenue forecast.

On the flipside, Airbnb ( ABNB ) slid 12.7% to log its

biggest one-day percentage drop after the company forecast

third-quarter revenue below estimates and warned of shorter

booking windows, suggesting travelers were waiting until the

last minute to book due to economic uncertainty.

Walt Disney ( DIS ) fell 1.9% as it predicted a 'moderation

in demand' at its theme park business in the coming quarters.

Super Micro Computer ( SMCI ) lost 16.3% after reporting

quarterly adjusted gross margins below estimates. Rival Dell

Technologies ( DELL ) dropped 4.9%.

Amgen ( AMGN ) fell 4.4% as its second-quarter profit

slipped 1% on higher expenses that offset a 20% increase in

revenue.

Charles River Laboratories ( CRL ) slipped 12.4% after the

contract research firm trimmed its annual forecast.

The markets now await more commentary on monetary policy

from U.S. central bank officials next week, in the run-up to the

Jackson Hole event where Fed Chair Jerome Powell is scheduled to

speak.

Advancing issues outnumbered decliners by a 3.31-to-1 ratio

on the NYSE and by a 1.83-to-1 ratio on Nasdaq.

The S&P 500 posted 15 new 52-week highs and one new low

while the Nasdaq Composite recorded 27 new highs and 84 new

lows.

(Reporting by Shubham Batra and Shashwat Chauhan in Bengaluru;

Editing by Sriraj Kalluvila and Shinjini Ganguli)