US STOCKS-Wall St rises on oil's price slide

(Updates with Nasdaq rising 1 percent)

NEW YORK, July 8 (Reuters) - U.S. stocks rose in volatile trading on Tuesday, sending the Nasdaq up more than 1 percent, as a pullback in oil prices calmed inflation concerns and rekindled optimism about the outlook for consumer and business spending.

The Dow Jones industrial average .DJI rose 44.04 points, or 0.39 percent, to 11,276.00. The Standard & Poor's 500 Index .SPX climbed 3.50 points, or 0.28 percent, to 1,255.81. The Nasdaq Composite Index .IXIC gained 17.26 points, or 0.77 percent, to 2,260.58. (Reporting by Deborah Jian Lee; Editing by James Dalgleish)