Wall Street snapped a two-day losing streak — and sent shares of Apple soaring — after the US said it will delay imposing tariffs on certain items that were supposed to take effect on Sept. 1.

Cellphones, laptops, and some apparel items will not be affected by the 10 percent tariffs President Trump planned to impose next month, the United States Trade Representative announced Tuesday, citing “health, safety, national security and other factors” as reasons for the delay. Those items will be subjected to the tariffs starting Dec. 15.

The delay was enough to propel stocks — which had been hampered over the last few weeks on trade worries — upward.

The Dow Jones Industrial Average climbed more than 500 points — or 1.9 percent — after the USTR’s announcement before retreating slightly. Apple was the biggest gainer on the blue-chip index, soaring 4.8 percent.

Other gainers in Tuesday’s session were Dow and Caterpillar, both up more than 4 percent. Retailers and toy-makers, which rely on goods and services from China, also got a boost, with Mattel jumping 9 percent, while Kohl’s and Walmart popped 5.8 percent and 2.5 percent, respectively.

Both the S&P 500 and Nasdaq were up, gaining 1.9 percent and 2.2 percent, respectively.

Trade tensions ramped up between the two countries earlier this month after Trump threatened to impose tariffs of 10 percent on $300 billion in Chinese goods.

But analysts eyed Tuesday’s sudden rally cautiously.

“I’m not sure this takes us out of the woods,” Donald Selkin, chief market strategist at Newbridge Securities, told The Post.

“It’s a very strong rally in the context of a market that has been trending lower,” he said.

On Monday, the Dow fell 391.00 points — or 1.5 percent — as anti-democracy protests in Hong Kong dimmed hopes that the US will be able to reach a trade truce with China. Analysts from Goldman Sachs said the market now assumes a 13 percent chance of a trade agreement — down from 80 percent in April.