* S&P 500 poised for first 3-session rally of yr
* 9 of 10 S&P sectors higher
* Kinder Morgan up after Berkshire reports stake
* Fossil, Priceline up after results beat estimates
* Indexes up: Dow 1.77 pct, S&P 1.84 pct, Nasdaq 2.35 pct (Updates to late afternoon)
By Lewis Krauskopf
Feb 17 (Reuters) - Wall Street steamed toward a third straight session of gains on Wednesday, led by energy shares as oil prices jumped.
Nine of the 10 major S&P sectors were higher, with energy rising more than 3 percent.
The S&P 500 was tracking to its first three-day rally of 2016 and its biggest three-day percentage gain since August.
Still, the index remains down about 5.5 percent this year. The steep slide in oil, whose performance has been tightly tied to equities, along with fears of a China-led slowdown in global growth have rattled markets.
Oil prices rose 7 percent on Wednesday after Iran voiced support for a Russia-Saudi-led move to freeze production. Data also showed U.S. industrial production in January rose by the most in 14 months.
“Oil continues to directionally trade with equities and oil prices are higher, and more important, economic data recently has been better than feared,” said Jason Ware, chief investment officer at Albion Financial Group in Salt Lake City.
“Meanwhile, the backdrop for equities is oversold...This has certainly compelled some folks who are under-invested to get back into the stock market,” Ware said.
The Dow Jones industrial average was up 287.11 points, or 1.77 percent, to 16,483.52, the S&P 500 had gained 34.85 points, or 1.84 percent, to 1,930.43 and the Nasdaq Composite had added 104.15 points, or 2.35 percent, to 4,540.11.
The U.S. indexes built on their gains after minutes from the U.S. Federal Reserve’s January policy meeting were released in the afternoon.
The minutes showed Fed policymakers worried last month that tighter global financial conditions could hit the U.S. economy and considered changing their planned path of interest rate hikes in 2016.
Kinder Morgan shares were up 10.9 percent at $17.32 after Berkshire Hathaway disclosed a stake in the pipeline operator.
Devon Energy shares fell 5.2 percent to $20.15 after the oil producer slashed its dividend.
Priceline was 11.5 percent higher at $1,238.48 after the travel websites operator’s profit beat expectations.
Fossil surged 26.5 percent at $43.59 after the watchmaker’s quarterly results beat estimates.
Advancing issues outnumbered declining ones on the NYSE by 2,631 to 415, for a 6.34-to-1 ratio on the upside; on the Nasdaq, 2,119 issues rose and 641 fell for a 3.31-to-1 ratio favoring advancers.
The S&P 500 posted 13 new 52-week highs and 2 new lows; the Nasdaq recorded 19 new highs and 35 new lows. (Reporting by Lewis Krauskopf in New York; additional reporting by Abhiram Nandakumar and Yashaswini Swamynathan in Bengaluru; Editing by Saumyadeb Chakrabarty and Chizu Nomiyama)