* Oil prices fall nearly 4 pct ahead of OPEC meeting
* Healthcare gains; UnitedHealth hits record on forecast
* Tiffany gains on first sales increase in 8 quarters
* Indexes up: Dow 0.09 pct, S&P 0.20 pct, Nasdaq 0.37 pct
(Adds details, changes comment, updates prices)
By Tanya Agrawal and Anya George Tharakan
Nov 29 The Dow was little changed in late
morning trading on Tuesday, pressured by a sharp drop in oil
prices that weighed on energy companies, while a rise in
healthcare and biotech stocks helped lift the Nasdaq and the S&P
Oil fell nearly 4 percent on signs that leading oil
exporters were struggling to agree on a deal to cut production
ahead of an OPEC meeting on Wednesday.
The S&P energy index dropped 1.75 percent, leading
the decliners among the 11 major S&P sectors. All but one of its
components were in the red.
Chevron declined 1.6 percent and Exxon fell
1.3 percent. The stocks were among the biggest drags on the Dow
and the S&P.
"You're seeing oil, both in terms of the physical commodity
as well as energy equities, under pressure today and this is on
the back of increased skepticism surrounding the likelihood of
OPEC reaching any type of consensus tomorrow," said Marcelle
Daher, co-head of North American asset allocation at John
Hancock Financial Services.
Helping offset the drag from lower oil prices was the
healthcare index's 0.68 percent gain, which led the
seven advancing S&P sectors.
Boosting the sector was UnitedHealth's 3.6 percent
rise to a record high after the largest U.S. health insurer's
AbbVie was also up 3.2 percent, while Clegene
rose 1.9 percent. The Nasdaq Biotech index was
up 0.41 percent.
At 11:03 a.m. ET (1603 GMT) the Dow Jones Industrial Average
was up 16.59 points, or 0.09 percent, at 19,114.49.
The S&P 500 was up 4.3 points, or 0.2 percent, at
The Nasdaq Composite was up 19.80 points, or 0.37
percent, at 5,388.61.
U.S. stocks closed lower on Monday in their worst showing in
nearly a month as investors booked profits on the heels of a
Wall Street has rallied since Donald Trump's victory in the
presidential election as investors expect his plans to increase
infrastructure spending, cut corporate taxes and reduce
regulation to boost the economy.
However some analysts have argued that the rally may have
"I do think some of the moves have been massive, quite
honestly ... there has been an overshoot," said Daher.
Among stocks, Tiffany was up 4.7 percent at $81.82
after the upscale jeweler reported its first rise in sales in
Advancing issues outnumbered decliners on the NYSE by 1,548
to 1,268. On the Nasdaq, 1,555 issues rose and 1,055 fell.
The S&P 500 index showed 15 new 52-week highs and no new
lows, while the Nasdaq recorded 110 new highs and 12 new lows.
(Reporting by Tanya Agrawal; Editing by Saumyadeb Chakrabarty
and Savio D'Souza)