* Greenback slides against yen; dollar index little changed
* Oil falls on U.S. drilling but OPEC cuts support market
* U.S. chipmakers fall after record high close Friday
By Rodrigo Campos
NEW YORK, Nov 27 (Reuters) - Declines in chipmaker shares weighed on stocks across the globe on Monday, while U.S. energy shares fell as crude dropped and the dollar slipped to an 11-week low against the yen.
U.S. chipmaker stocks fell 1.2 percent after closing at a record high on Friday. A Morgan Stanley note on global technology downgraded Samsung and Taiwan Semiconductor and argued it is "time for a pause" for chipmakers, which have seen stellar performance this year.
Tech stocks in Europe fell 0.6 percent.
"The (stock) market is looking at the rest of the world and seeing it's a little bit soft, while the early read on holiday sales has been pretty good. So on the consumer side that's looking good," said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.
Consumer Discretionary was among the top boosts to the S&P as sales data indicated an upbeat consumer during the first weekend of the holiday shopping season.
The Dow Jones Industrial Average rose 29.08 points, or 0.12 percent, to 23,587.07, the S&P 500 lost 1.49 points, or 0.06 percent, to 2,600.93 and the Nasdaq Composite dropped 14.67 points, or 0.21 percent, to 6,874.49.
The pan-European FTSEurofirst 300 index lost 0.28 percent and MSCI's gauge of stocks across the globe shed 0.23 percent.
Emerging market stocks lost 0.84 percent. MSCI's broadest index of Asia-Pacific shares outside Japan closed 0.81 percent lower, while Japan's Nikkei lost 0.24 percent.
Energy stocks fell the most on the S&P 500, down 1.0 percent. The slide tracked a 2.09-percent decline in U.S. crude to $57.72 per barrel while Brent was last at $63.22, down 1 percent on the day.
The dollar index fell 0.04 percent, with the euro down 0.07 percent to $1.1922.
The Japanese yen strengthened 0.52 percent versus the greenback at 110.97 per dollar, after hitting 110.89, the strongest in 11 weeks.
Sterling was last trading at $1.3339, up 0.03 percent on the day.
Treasury yields rose briefly after data showed U.S. new home sales surged to their highest in 10 years and were last little changed on the day.
Benchmark 10-year notes last rose 2/32 in price to yield 2.333 percent, from 2.34 percent late on Friday.
The gap between U.S. 2-year note and U.S. 10-year note yields contracted to 56.30 basis points, the tightest since October 2007. The gap was last at 57.4 basis points.
The 30-year bond last rose 1/32 in price to yield 2.76 percent, from 2.761 percent late on Friday.
Spot gold added 0.7 percent to $1,296.58 an ounce. U.S. gold futures gained 0.69 percent to $1,296.20 an ounce.
Copper lost 0.92 percent to $6,937.50 a tonne.
Reporting by Rodrigo Campos; Additional reporting by Sruthi Shankar in Bengaluru; Editing by Nick Zieminski