US STOCKS-S&P 500 rises as traders weigh stimulus and virus worries

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* Netflix falls as subscriber growth forecast disappoints
* BlackRock rises on profit boost
* Indexes: Dow -0.11%, S&P 500 +0.33%, Nasdaq +0.30%

(Updates to afternoon)
By Noel Randewich
July 17 (Reuters) - The S&P 500 rose in choppy trading on
Friday as investors weighed the prospect of more fiscal stimulus
against fears of further business disruptions due to a record
rise in COVID-19 cases.
Netflix NFLX.O tumbled 7% after the video streaming
service forecast slower-than-expected subscriber growth during
the third quarter, pulling the communication services sector
.SPLRCL down 0.9%. The S&P 500 utilities .SPLRCU , real estate .SPLRCR and
healthcare .SPXHC indexes were among the session's strongest
gainers.
The S&P 500 and the Dow are set to close the week higher
after optimism over an eventual coronavirus vaccine and hopes of
a post-pandemic economic recovery helped investors look past a
continuous surge in COVID-19 cases. The United States witnessed
77,000 new infections on Thursday. The Nasdaq was set to end the week lower as investors sold
shares of high-flying companies including Microsoft Corp
MSFT.O and Amazon.com Inc AMZN.O and moved into cyclical
sectors.
Next week, second-quarter earnings season shifts into high
gear with reports expected from corporate heavyweights including
Microsoft MSFT.O , Tesla TSLA.O , Intel INTC.O and Verizon
Communications VZ.N .
With this year largely written off as a disaster for U.S.
corporations because of the coronavirus, investors are looking
for information from companies about the potential size and
timing of an eventual recovery.
“The question is what 2021 and 2022 look like, and what can
folks glean from the commentary, especially when companies have
withdrawn their guidance and made it difficult to get a sense of
what their prospects look like,” said Tom Hainlin, National
Investment Strategist at U.S. Bank Wealth Management.
Abbott Laboratories ABT.N rose 3.2%, lifting the S&P 500
more than any other stock. A 1.7% drop in Boeing BA.N helped
keep the Dow in negative territory.
At 2:31 p.m. ET (1831 GMT), the Dow Jones Industrial Average
.DJI was down 0.11% at 26,704.98 points, while the S&P 500
.SPX gained 0.33% to 3,226.23.
The Nasdaq Composite .IXIC added 0.3% to 10,504.76.
Unprecedented stimulus measures and improving economic data
have helped the S&P 500 rise to within 5% of its February record
high.
Investors are also hoping for more fiscal support as a
program that offers additional unemployment benefits is set to
expire on July 31. The U.S. Congress will return to Washington
on Monday to debate another coronavirus aid bill. "Both Republicans and Democrats have a strong incentive to
agree upon further pre-election stimulus. It's not a matter of
'if' a stimulus passes, it's just what the size and content of
that package looks like," said Andrea Bevis, senior vice
president, UBS Private Wealth Management, based in Boston.
BlackRock Inc BLK.N , the world's largest asset manager,
rose 3.9% after reporting a jump in quarterly profit as
investors poured money into its fixed-income funds and cash
management services. Advancing issues outnumbered declining ones on the NYSE by a
1.40-to-1 ratio; on Nasdaq, a 1.48-to-1 ratio favored advancers.
The S&P 500 posted 37 new 52-week highs and no new lows; the
Nasdaq Composite recorded 81 new highs and seven new lows.