US STOCKS-Wall Street rallies on crude oil recovery
* U.S. consumer spending up in November
* Nike reverses course after hitting record high
* Celgene up after settling patent litigation
* Indexes up: Dow 0.85 pct, S&P 1.03 pct, Nasdaq 0.72 pct (Updates to early afternoon)
By Abhiram Nandakumar
Dec 23 (Reuters) - Wall Street rallied for the third straight day, led by sharp gains in energy stocks, as a rebound in crude oil prices boosted sentiment heading into the Christmas holidays.
Oil prices were up after U.S. inventories fell, but still hovered near multi-year lows as oversupply concerns continued to weigh.
The S&P energy sector rose 2.8 percent and led the 10 major sectors on the index by a wide margin. Exxon shares were up 1.9 percent at $79.09, while Chevron was up 2.4 percent at $92.36 and provided the biggest boost to the Dow.
"This is almost always a very good week for the market. The market rallies into Christmas," said Jeff Clark, trading analyst at Stansberry Research in Baltimore. Continuación...