US STOCKS-Wall St rebounds after recent losses; financials help
* Apollo Education jumps on raised buyout offer
* ISM manufacturing activity index slips to 50.8 in April vs 51.8 in March
* Indexes up: Dow 0.6 pct, S&P 0.6 pct, Nasdaq 0.7 pct (Updates to late afternoon)
By Caroline Valetkevitch
May 2 (Reuters) - U.S. stocks rose on Monday, rebounding from losses last week, with gains in Berkshire Hathaway boosting the financial sector.
Gains in consumer discretionary and staples shares also lifted stocks, which on Friday posted their largest weekly drop in more than two months.
"What we're seeing now is the market bouncing back after selling off on disappointment on the central bank front late last week," said Adam Sarhan, chief executive of Sarhan Capital in New York.
"You also have some healthy sector rotation occurring," he said, mostly out of commodity-related stocks.
Recovering oil prices and an accommodative Federal Reserve have helped the S&P 500 rise 15 percent since February - about 3 percent short of its all-time high. However on Thursday, the Bank of Japan's call to not increase monetary stimulus rattled investors. Continuación...