US STOCKS-Technology stocks power S&P 500, Nasdaq to new highs

(For a live blog on the U.S. stock market, click LIVE/ or
type LIVE/ in a news window.)
* Global stocks hit all-time high
* Salesforce set for biggest one-day percentage jump
* Intuit , Hewlett Packard Enterprise gain after results
* Dow dips 0.24%, S&P up 0.38%, Nasdaq jumps 0.98%

(Adds comment, details; updates prices)
By Medha Singh and Devik Jain
Aug 26 (Reuters) - The S&P 500 and the Nasdaq hit record
highs on Wednesday as investors bought into technology stocks
that have thrived during the COVID-19 pandemic following the
upbeat quarterly results from Salesforce and HP Enterprise.
Salesforce.com Inc CRM.N , which is set to enter the
blue-chip Dow index .DJI next week, surged 27.3% as it raised
annual revenue forecast due to high demand for its online
business software. Hewlett Packard Enterprise Co HPE.N added 6.2% as its
full-year profit outlook came ahead of market expectations and
income-tax filing software firm Intuit Inc INTU.O advanced
1.1% after it reported a jump in quarterly revenue.
The tech sector .SPLRCT climbed 1.5%, but seven of the 11
major S&P sectors eased. The MSCI world equity index
.MIWD00000PUS hit an all-time high.
"Markets are pricing in uncertainty in regards to some of
the coronavirus-related economic impact, due to which the
stay-at-home and technology stocks have seen a renewed source of
relative strength," said Matt Stucky, portfolio manager,
equities, at Northwestern Mutual Wealth Management Co in
Milwaukee, Wisconsin.
Adding to the upbeat mood was early data from Moderna 's
MRNA.O experimental COVID-19 vaccine which showed it induced
immune responses in older adults that were similar to younger
participants. The S&P 500 and the Nasdaq have hit a series of record
closing highs recently, driven by stimulus and demand for
tech-focused stocks, even though economic data pointed to an
uneven recovery from a recession.
All eyes will be on Fed Chair Jerome Powell's address at the
virtual Jackson Hole symposium before markets open on Thursday,
where he is expected to outline a softer policy stance on
inflation. "Allowing higher levels of inflation that they'd be
comfortable with in the economy is a sign that loose financial
and monetary policy is going to be the norm for quite some
time," Stucky said.
At 11:10 a.m. ET, the Dow Jones Industrial Average .DJI
was down 66.91 points, or 0.24%, at 28,181.53, the S&P 500
.SPX was up 13.24 points, or 0.38%, at 3,456.86. The Nasdaq
Composite .IXIC was up 112.91 points, or 0.98%, at 11,579.39.
Nordstrom Inc JWN.N tumbled 5.4% after reporting a
bigger-than-expected loss as its stores were shut for about half
of the reported quarter and consumers stayed at home with little
need for designer clothes. Declining issues outnumbered advancers for a 1.53-to-1 ratio
on the NYSE and for a 1.35-to-1 ratio on the Nasdaq.
The S&P index recorded 25 new 52-week highs and no new low,
while the Nasdaq recorded 67 new highs and three new lows.