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* Healthcare stocks weigh on S&P 500
* Boeing props up Dow Industrials
* ISM data shows upbeat business activity in October
* Indexes: Dow up 0.11%, S&P down 0.09%, Nasdaq flat (Changes comment, updates market action)
By Arjun Panchadar
Nov 5 (Reuters) - The three main U.S. indexes took a breather on Tuesday after expectations of a U.S.-China trade deal propelled them to record highs in the previous session.
The benchmark S&P 500 and Nasdaq indexes have risen in seven of the past 10 sessions. The S&P 500 healthcare sector shed 0.51% on Tuesday, while technology stocks slipped 0.15% after two days of gains.
China is pushing President Donald Trump to remove more tariffs as part of the "phase one" deal, which may be signed this month, according to latest reports.
"It sounded like we were done with a Phase one deal but now it seems to be coming with certain caveats, like a list of demands from China, including a rollback in tariffs, just adds to the tail risks of a deal being signed," said Yousef Abbasi, global market strategist at INTL FCStone Financial in New York.
Apart from hopes of a resolution to the trade war, a largely better-than-expected third-quarter earnings season, the Federal Reserve's interest rate cut and an upbeat October jobs report have fueled the recent rally on Wall Street.
The S&P 500 and the Nasdaq closed at record highs for the second consecutive session on Monday, while the Dow Jones hit a record high for the first time since July.
Over three-quarters of the S&P 500 companies that have reported results so far have beaten profit expectations, Refinitiv data showed.
Further easing concerns of a slowdown in the domestic economy, data on Tuesday showed reading on the ISM services index improved to 54.7 in October from 52.6 in September, above expectations of 53.4, according to economists polled by Reuters.
At 11:28 a.m. ET, the Dow Jones Industrial Average was up 29.98 points, or 0.11%, at 27,492.09, the S&P 500 was down 2.89 points, or 0.09%, at 3,075.38 and the Nasdaq Composite was up 4.58 points, or 0.05%, at 8,437.78.
Four of the 11 major S&P 500 sectors were lower, with real estate leading the declines. The energy sector climbed 0.66%, as oil prices rose.
A 2% rise in Boeing Co's shares kept the blue-chip Dow Jones index in positive territory after Chairman Dave Calhoun said the company's board believed Chief Executive Officer Dennis Muilenburg "has done everything right" following two fatal crashes involving its 737 MAX jet.
Adobe Inc rose 3.3% as the Photoshop software maker raised its fourth-quarter digital media annualized recurring revenue target, supporting the Nasdaq.
Uber Technologies Inc fell 7.6% after the ride-hailing service posted a bigger third-quarter loss.
Declining issues outnumbered advancers for a 1.06-to-1 ratio on the NYSE. Advancing issues outnumbered decliners by a 1.20-to-1 ratio on the Nasdaq.
The S&P index recorded 57 new 52-week highs and no new lows, while the Nasdaq recorded 134 new highs and 27 new lows. (Reporting by Arjun Panchadar and Shreyashi Sanyal in Bengaluru; Editing by Arun Koyyur and Sriraj Kalluvila)