* Oil rebound offsets China concerns; indexes erase losses
* Energy stocks surge; Chevron, Exxon Mobil among advancers
* Stocks up: Dow, S&P 0.8 pct, Nasdaq 0.7 pct
* For up-to-the-minute market news, click STXNEWS/US (Updates to early afternoon, changes byline)
By Angela Moon
NEW YORK, Aug 19 (Reuters) - U.S. stocks advanced on Wednesday as a strong rebound in oil prices boosted investors' confidence in the market's run-up, sending major indexes up close to 1 percent.
The surge in crude oil erased early losses triggered by a heavy sell-off overnight in Chinese shares.
Exxon Mobil Corp
U.S. front-month crude oil
Wall Street had opened lower after the Shanghai Composite index <.SSEC> fell to a two-month low as investors fretted that a 20 percent slide over the past two weeks would continue. [ID:nHKG105116]
"We see more people shrugging off overseas weakness and putting money into equities here, not wanting to see the stocks come down," said Michael James, senior trader Wedbush Morgan in Los Angeles.
"Firmer oil prices are helping the overall equities market, but there is a positive bias toward equities to begin with."
The Dow Jones industrial average <.DJI> was up 73.54 points, or 0.80 percent, at 9,291.48. The Standard & Poor's 500 Index <.SPX> was up 7.71 points, or 0.78 percent, at 997.38. The Nasdaq Composite Index <.IXIC> was up 13.24 points, or 0.68 percent, at 1,969.16.
Healthcare stocks were also outperforming, lead by Merck &
Co.
The tech-heavy Nasdaq index was slightly underperforming
others. Hewlett-Packard Co
Also limiting gains was Deere & Co