By Sruthi Shankar and Susan Mathew
(Reuters) - The S&P 500 and the Dow Jones Industrial Average slipped on Tuesday, led by losses in oil and healthcare stocks, with investors nervously awaiting the latest in the U.S.-Iran standoff.
The tech-heavy Nasdaq remained buoyant as chipmakers resumed their strong rally from 2019.
Micron Technology Inc
Energy stocks <.SPNY> were down 1% as oil prices surrendered gains made over the last few days, and healthcare stocks <.SPXHC> fell 0.3% as shares in Merck & Co Inc
Equity markets have been trying to shake off concerns from escalating tensions between Washington and Tehran after the killing of a top Iranian military commander last week by the United States.
"The reason why we are modestly negative here is the tension in the Middle East and the noise coming out around it," said Phil Blancato, chief executive officer of Ladenburg Thalmann Asset Management in New York.
"I think the market is being very patient here, just waiting for news from one side or the other."
Latest data showed new orders for U.S.-made goods fell in November, pulled down by steep declines in demand for machinery and transportation equipment, pointing to sustained weakness in manufacturing.
However, another reading on the non-manufacturing sector activity for November came in better than expected.
At 11:25 a.m. ET the Dow Jones Industrial Average <.DJI> was down 23.62 points, or 0.08%, at 28,679.76, the S&P 500 <.SPX> was down 1.99 points, or 0.06%, at 3,244.29 and the Nasdaq Composite <.IXIC> was up 16.94 points, or 0.19%, at 9,088.40.
Goldman Sachs Group Inc
Shares in Apache Corp
Declining issues outnumbered advancers for a 1.25-to-1 ratio on the NYSE and a 1.14-to-1 ratio on the Nasdaq.
The S&P index recorded 32 new 52-week highs and one new low, while the Nasdaq recorded 71 new highs and seven new lows.
(Reporting by Sruthi Shankar, Medha Singh and Susan Mathew in Bengaluru; Editing by Sriraj Kalluvila, Maju Samuel and Shounak Dasgupta)
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Updated Date: Jan 08, 2020 00:09:02 IST