US STOCKS-S&P 500 flat as vaccine bets offset surging coronavirus cases; Boeing rises

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* Boeing surges on 737 MAX jet approval
* Pfizer gains on improved final vaccine trial data
* Lowe's slides after forecast disappoints
* Target, TJX rise as results beat
* Indexes: Dow up 0.2%, S&P flat, Nasdaq down 0.3%

(Updates to market open)
By Shivani Kumaresan and Medha Singh
Nov 18 (Reuters) - The S&P 500 was little changed on
Wednesday as investors weighed near-term economic pain from
surging coronavirus cases against growing optimism that a
working vaccine was near, while the Dow was boosted by a rise in
shares of Boeing.
The planemaker BA.N advanced 3.2% after getting U.S.
approval to fly its 737 MAX jet again after a 20-month grounding
following two fatal crashes.
The news also lifted shares of airlines. American Airlines
AAL.O gained 3.6% and Southwest Airlines LUV.N added 2.1% as
the carriers laid out plans to fly the aircraft again.
Pfizer Inc PFE.N said it would apply for emergency U.S.
authorization of its COVID-19 vaccine within days and disclosed
final results from a late-stage trial that showed it was 95%
effective. The drugmaker's shares rose 3%. The announcement comes after Moderna Inc MRNA.O on Monday
released preliminary data for its COVID-19 vaccine, showing
similar effectiveness.
Meanwhile, the number of reported global daily deaths from
the coronavirus stood at its highest ever on Tuesday, as the
virus's global epicenter the United States entered winter.
"The current market narrative seems to encompass a
tug-of-war between good news on the vaccine front, juxtaposed
against increasing new cases of COVID," said Art Hogan, chief
market strategist at National Securities in New York.
At 09:58 a.m. ET, the Dow Jones Industrial Average .DJI
rose 69.04 points, or 0.23%, to 29,852.39, the S&P 500 .SPX
fell 1.77 points or 0.05% to 3,607.76. The Nasdaq composite
.IXIC lost 41.47 points, or 0.35% to 11,857.87.
Target Corp TGT.N rose 2.3% after the big-box retailer
blew past expectations for quarterly profit and sales, as its
quick delivery services boosted online shopping. Discount store operator TJX Companies Inc TJX.N rose about
3% after topping quarterly sales estimates.
"With earnings announcements coming in better than expected
from the retail space and the positive news on Boeing, it should
drive interest in cyclicals," said Robert Pavlik, senior
portfolio manager at Dakota Wealth, New York.
S&P sectors sensitive to economic growth, such as financials
.SPSY , industrials .SPLRCI , materials .SPLRCM and energy
.SPNY , led the gainers.
The benchmark S&P 500 .SPX and the blue-chip Dow .DJI
retreated from all-time highs on Tuesday as glum U.S. retail
sales data, as well as the specter of fresh restrictions
dampened demand for risky assets.
Lowe's Cos Inc LOW.N tumbled 5% as the home improvement
chain forecast holiday-quarter earnings largely below analysts'
estimates.
Advancing issues outnumbered decliners on the NYSE by a
1.9-to-1 ratio and by a 1.7-to-1 ratio on the Nasdaq.
The S&P 500 posted 12 new 52-week highs and no new low,
while the Nasdaq Composite recorded 130 new highs and five new
lows.