US STOCKS-Wall St rallies on China stimulus ahead of tech earnings
* Hasbro reports surprise revenue rise, shares jump
* Royal Caribbean falls as strong dollar hurts onboard spending
* IBM reports after the bell, followed by more tech this week
* Indexes up: Dow 1.18 pct, S&P 0.91 pct, Nasdaq 1.21 pct (Updates to late afternoon, adds detail on tech sector)
By Noel Randewich
April 20 (Reuters) - Wall Street rose on Monday, reversing much of the previous session's sharp decline, as China's steps to stimulate its slowing economy and cautious optimism about U.S. earnings lured investors into technology stocks.
In the second industry-wide cut in two months, China's central bank on Sunday reduced the amount of cash that banks must hold as reserves in a move to help spur lending and combat slowing growth.
A 2.5 percent rise in Apple led the U.S. market higher, along with a 2.89 percent jump in IBM, which reports its March-quarter results after the bell. The Information Technology component of the S&P 500 was up 1.75 percent.
At 2:58 p.m. the Dow Jones industrial average rose 209.52 points, or 1.18 percent, to 18,035.82, the S&P 500 gained 18.84 points, or 0.91 percent, to 2,100.02 and the Nasdaq Composite added 59.90 points, or 1.21 percent, to 4,991.72. Continuación...