(For a Reuters live blog on U.S., UK and European stock

markets, click LIVE/ or type LIVE/ in a news window.)

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Indexes up: Dow 1.51%, S&P 500 1.92%, Nasdaq 2.37%

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Consumer sentiment at 57.9 in March

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Tesla up on report it is planning lower-cost Model Y in

Shanghai

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Bullion miners up as gold prices cross $3,000 mark

(Updates with mid-session trading)

By Johann M Cherian and Pranav Kashyap

March 14 (Reuters) -

U.S. equities staged a modest recovery on Friday, after a

turbulent week marked by a broad selloff as investors assessed

the economic fallout of the Trump administration's chaotic trade

policies, putting major indexes on track for weekly losses.

The technology sector, which bore the brunt of the

selloff, spearheaded sectoral gains with a 2.8% rise.

An index tracking banks gained 2.9%, while chip

stocks such as Nvidia ( NVDA ) and Broadcom ( AVGO ) advanced,

aiding the broader chip index's 3% rise.

"These growth companies that have been selling off these

highs, the reality is their valuations were high, but they're

good companies and they're leading the AI revolution," said

Brian Klimke, chief market strategist at Cetera Investment

Management.

"Sometimes, a little selloff is good and they can

provide a buying opportunity."

All three major indices were on track for weekly

losses. The benchmark S&P 500 is set for its fourth consecutive

week of declines, marking its longest losing streak in seven

months.

The investment climate remains clouded in uncertainty due to

Trump's inconsistent tariff strategy. Recent levies on metal

imports elicited swift retaliatory actions from Canada and the

European Union. The U.S. president has also alluded to the

prospect of further reciprocal tariffs in early April.

Several brokerages also downgraded their ratings on U.S.

stocks and numerous companies issued cautious forecasts, citing

economic worries.

The S&P 500 plunged into correction territory and

saw more than $4 trillion in market value evaporate. The

tech-heavy Nasdaq had already breached correction

thresholds the prior week.

The blue-chip Dow, about 8% shy of its recent

record peak, is on the brink of its worst week in two years,

should current losses persist.

At 11:58 a.m. ET the Dow Jones Industrial Average

rose 615.60 points, or 1.51%, to 41,429.17, the S&P 500

gained 106.20 points, or 1.92%, to 5,627.72 and the Nasdaq

Composite gained 410.02 points, or 2.37%, to 17,713.03.

Consumer staples, often seen as faring better in

times of uncertainty, was on track for its biggest one-week drop

since May 2022 after it came in the crossfire of Trump's tariff

threats.

Stocks dipped briefly earlier in the day after a University

of Michigan survey revealed a sharp decline in consumer

sentiment for March, with inflation fears mounting.

Investors flocked to safe-haven assets, propelling gold

past the key $3,000 barrier for the first time in

history.

U.S.-listed shares of bullion miners surged, with Barrick

Gold advancing 1.6% and Sibanye Stillwater

rising 1.9%.

Tesla added 3.4%. A report said the automaker would

make a lower-cost version of its best-selling Model Y in

Shanghai, aiming to regain ground lost during a price war in its

second-largest market.

The U.S. Senate was on the verge of passing a stopgap

spending bill to avert a partial government shutdown.

The central bank's policy decisions will be closely watched

next week. Traders expect the U.S. Federal Reserve to maintain

interest rates at its upcoming meeting, according to LSEG data.

Advancing issues outnumbered decliners by a 5.39-to-1

ratio on the NYSE, and by a 3.53-to-1 ratio on the Nasdaq.

The S&P 500 posted one new 52-week high and five new

lows, while the Nasdaq Composite recorded 29 new highs and 126

new lows.