US STOCKS-Wall St mixed with stimulus in focus; Dow hits over 5-month high

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* Eastman Kodak plummets as govt loan agreement put on ice
* Energy stocks outperform on strong crude
* Money to flow into cyclicals on growth hopes- Analyst
* Dow rises 0.99%, S&P up 0.18%, Nasdaq down 0.38%

(Updates to early afternoon)
By Ambar Warrick and Medha Singh
Aug 10 (Reuters) - The S&P 500 and Dow rose on Monday, as
investors rotated into value stocks from heavyweight
tech-focused companies while awaiting word on progress in the
fiscal support bill for the country's battered economy.
The Nasdaq .IXIC , which hit a record high every day of
last week, was dragged lower by Microsoft Corp MSFT.O ,
Amazon.com Inc AMZN.O and Facebook Inc FB.O . The Dow index
touched a more than five-month high, boosted by growth-linked
industrial and financials stocks.
Bets on a potential coronavirus vaccine, historic fiscal and
monetary support, and more recently, a better-than-expected
second quarter earnings season have brought the S&P 500 to
within 1% of its February record high.
"Particularly for many people who missed the rally,
(cyclicals) is the only place where you can still find value,"
said Thomas Hayes, managing member at Great Hill Capital Llc in
New York.
All three indexes opened higher after U.S. President Donald
Trump signed executive orders that partly restored enhanced
unemployment benefits after talks between the White House and
top Democrats in Congress about fresh stimulus broke down last
week. U.S. Treasury Secretary Steven Mnuchin, in an interview to
CNBC on Monday, said the Trump administration and Congress could
reach an agreement as soon as this week if Democrats are
"reasonable." Value stocks, which tend to outperform growth coming out of
a recession, have gotten a lift in recent days. The Russell 1000
value .RLV index rose 0.7% on Monday, while the Russell 1000
growth .RLG index slipped 0.3%.
"It's going to take a while before we can see some real good
growth, but the market seems to be betting otherwise," said
Peter Cardillo, chief market economist at Spartan Capital
Securities in New York.
At 13:03 p.m. ET, the Dow Jones Industrial Average .DJI
was up 272.55 points, or 0.99%, at 27,706.03, the S&P 500 .SPX
was up 6.08 points, or 0.18%, at 3,357.36. The Nasdaq Composite
.IXIC was down 41.80 points, or 0.38%, at 10,969.18.
Energy .SPNY and industrials .SPLRCI , among the worst
performers this year, led gains among major S&P sectors.
Technology .SPLRCT and communication services .SPLRCL fell
about 0.8% each.
Among individual movers, Eastman Kodak Co KODK.N sank
27.5% after its $765-million loan agreement with the U.S.
government to produce pharmaceutical ingredients was put on hold
due to "recent allegations of wrongdoing." Microsoft Corp MSFT.O fell 2.2% as sources said its bid to
carve out parts of TikTok from its Chinese owner ByteDance will
be a technically complex endeavor. Mall owner Simon Property Group SPG.N rose 7.3% after a
report that it has been in talks with Amazon.com Inc AMZN.O
about turning some of its department-store sites into Amazon
fulfillment centers. The company's quarterly results are due
after markets close on Monday. Nike NKE.N surged 4.4% to a record high after footwear
retailer Foot Locker FL.N , to which Nike supplies, said
same-store sales increased about 18% in the second quarter. Foot
Locker shares rose 6.3%. Advancing issues outnumbered decliners by a 2.60-to-1 ratio
on the NYSE and by a 1.66-to-1 ratio on the Nasdaq.
The S&P index recorded 36 new 52-week highs and no new low,
while the Nasdaq recorded 95 new highs and nine new lows.

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3-month spread between Russell 100 growth and value indexes https://tmsnrt.rs/33Hf525
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