US STOCKS-Wall St cuts some Brexit losses as jitters ease
* U.S. consumer spending up 0.4 pct in May
* Oil continues to rally; Chevron leads Dow
* Tesaro soars on success of cancer drug
* Indexes up: Dow 1.31 pct, S&P 1.48 pct, Nasdaq 1.72 pct (Updates to early afternoon)
By Yashaswini Swamynathan
June 29 (Reuters) - Wall Street was sharply higher on Wednesday, with the three major indexes recovering about half the losses suffered in the aftermath of Britain's shock vote to leave the European Union.
Investors looked for bargains among beaten-down stocks, pushing up markets for the second day after the "Brexit" verdict wiped out about $3 trillion globally in a two-day selloff.
Oil prices jumped after the U.S. government reported a larger-than-expected weekly drawdown in crude inventories.
Chevron's shares were up 2.8 percent, providing the biggest boost to the Dow. Exxon was up 1.8 percent. Continuación...