US STOCKS-Wall Street surges as rate hike expectations recede
* Market on track to end six-day losing streak
* Fed's Dudley says Sept rate hike "less compelling"
* Google gains after Goldman raises rating
* Cameron International soars on Schlumberger deal
* Indexes up: Dow 3.1 pct, S&P 3.04 pct, Nasdaq 3.33 pct (Adds detail on valuations, comment)
By Noel Randewich
Aug 26 (Reuters) - Wall Street rallied more than 3 percent on Wednesday afternoon as fears about China's economy gave way to bargain hunters emboldened by expectations the U.S. Federal Reserve might not raise interest rates next month.
The surge followed a similar strong rise on Tuesday that collapsed late in the session with many traders unwilling to hold stocks overnight.
In a sign that a faltering Chinese economy and slumping global financial markets could affect U.S. monetary policy, New York Fed President William Dudley said the prospect of a September rate hike seemed "less compelling" than it was just two weeks ago. Continuación...