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* Apple boosts S&P 500, Boeing lifts Dow
* Caterpillar dips after lowering profit forecast
* Texas Instruments leads declines among chip stocks
* Boston Scientific, Thermo Fisher jump on upbeat profits
* Indexes up: Dow 0.09%, S&P 0.09%, Nasdaq 0.01% (Updates market action, adds comment)
By Shreyashi Sanyal and Arjun Panchadar
Oct 23 (Reuters) - Wall Street edged higher on Wednesday, led by gains in Boeing and Apple shares, even as weak earnings from Caterpillar and Texas Instruments raised concerns about the impact of the U.S.-China trade war on global growth.
Apple Inc's shares rose 1.2% after Morgan Stanley said the iPhone maker's soon-to-be-launched video streaming service, Apple TV+, could boost its services revenue.
But the tit-for-tat tariff moves between the United States and China prompted profit and revenue warnings from Texas Instruments and Caterpillar Inc.
Texas Instruments, seen as a proxy for the microchip sector, dropped 6.7%, while industrial bellwether Caterpillar slipped 0.5%. The stocks weighed on the Philadelphia Semiconductor index and the S&P 500 industrials sector, respectively.
"It's pretty clear there were some tough numbers coming out from bellwether type names like Caterpillar and Boeing, and certainly in the case of Boeing, people are shrugging it off," said Josh Wein, portfolio manager at Hennessy Funds in Chapel Hill, North Carolina.
Boeing's shares rose 2%, lifting the blue-chip Dow Jones index, after the world's largest planemaker reaffirmed the timeline for its grounded 737 MAX's return to service, as investors looked past a 53% drop in quarterly profit.
The S&P 500 has hovered near its record high this week after signs of progress in trade talks between the world's top two economies.
Investors are now waiting for results from big tech firms, with Microsoft Corp scheduled to report after markets close.
The earnings season has largely been upbeat with more than 82% of the 124 S&P 500 companies that have reported so far surpassing earnings expectations, according to Refinitiv data. But analysts still project the first earnings contraction since 2016.
At 12:09 p.m. ET, the Dow Jones Industrial Average was up 24.58 points, or 0.09%, at 26,812.68, while the S&P 500 was up 2.74 points, or 0.09%, at 2,998.73. The Nasdaq Composite was up 0.83 points, or 0.01%, at 8,105.12.
A 1.6% gain in Facebook boosted the tech heavy index after CEO Mark Zuckerberg sought to reassure U.S. lawmakers about its planned digital currency, Libra.
A handful of healthcare companies with low exposure to China rose on strong results, helping the S&P 500 healthcare sector climb 0.87%.
Alexion Pharmaceuticals jumped 7% after raising full-year forecast, while medical device makers Boston Scientific Corp and Thermo Fisher Scientific both gained about 6% after upbeat profits.
However, Eli Lilly and Co fell 2.8% after the drugmaker missed third-quarter revenue estimates.
Advancing issues outnumbered decliners by a 1.79-to-1 ratio on the NYSE and by a 1.27-to-1 ratio on the Nasdaq.
The S&P index recorded 13 new 52-week highs and one new low, while the Nasdaq recorded 40 new highs and 48 new lows.
Reporting by Shreyashi Sanyal and Arjun Panchadar in Bengaluru; Editing by Anil D'Silva and Sriraj Kalluvila