US STOCKS-Wall St edges higher in late trading
* Chinese factory activity contracts at fastest pace since 2012
* Twitter jumps after rumors of private equity deal
* Indexes up: Dow 0.2 pct, S&P 0.3 pct, Nasdaq 0.4 pct (Updates to late afternoon)
By Caroline Valetkevitch
Feb 1 (Reuters) - U.S. stocks edged higher in late Monday trading, reversing earlier losses, helped by strong gains in Facebook and Alphabet.
Internet giant Alphabet, which reports results after the close, was up 1.5 percent at $772.98. Toymaker Mattel, down 2.3 percent at $26.94, is also due to report after the close.
Twitter was up 6.1 percent at $17.82 after talk of a private equity deal.
Stocks had been lower earlier in the day as weak Chinese economic data added to concerns about a global slowdown and oil prices resumed their slide. The manufacturing sector in the world's second-largest economy contracted in January at the fastest pace since 2012.
"If you see strength in the last hour, that's very bullish," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama. Continuación...