US STOCKS-Wall Street edges higher as tech offsets healthcare loss

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* Healthcare weighed by Celgene, Bristol-Myers
* Caesars jumps as Eldorado Resorts to buy co
* United Technologies up on Cowen upgrade
* Dow up 0.23%, S&P rises 0.11%, Nasdaq inches 0.06% higher

(Updates to open)
By Shreyashi Sanyal
June 24 (Reuters) - U.S. stocks posted slight gains on
Monday, as technology stocks more than offset a decline in
healthcare sector, while investors awaited a high-stakes meeting
between U.S. and Chinese leaders at the G20 summit later this
week.
The S&P 500 index .SPX hit a record high last week,
boosted by rising expectations that the Federal Reserve would
cut interest rates and optimism over a revival in trade talks
between the United States and China. Presidents Donald Trump and Xi Jinping are expected to meet
at the G20 summit on June 28-29 in Japan.
"Markets are generally optimistic about the fact that both
sides are continuing to meet, talk, discuss and debate tariffs,
and so there's still the potential for progress," said Randy
Frederick, vice president of trading and derivatives for Charles
Schwab in Austin, Texas.
"Don't think markets are expecting a deal, but at least as
long as there's dialogue, there's hope for progress."
The trade-sensitive industrial sector .SPLRCI edged 0.2%
higher. But the biggest boost to the markets came from the
technology sector .SPLRCT , which rose 0.24%.
Countering the gains, healthcare sector .SPXHC dropped
0.42%, weighed by a 4.6% decline in shares of Celgene Corp
CELG.O and a 7% fall in those of Bristol-Myers Squibb Co
BMY.N .
Bristol-Myers said its planned $74 billion deal to buy
drugmaker Celgene was expected to close at the end of 2019 or
beginning 2020, compared with its earlier expectations of
closing the deal in the third quarter.
At 10:30 a.m. ET the Dow Jones Industrial Average .DJI
was up 61.00 points, or 0.23%, at 26,780.13, the S&P 500 .SPX
was up 3.17 points, or 0.11%, at 2,953.63 and the Nasdaq
Composite .IXIC was up 4.51 points, or 0.06%, at 8,036.22.
Also weighing on sentiment was rising tensions between the
United States and Iran, after Tehran shot down an American drone
last week.
Trump said on Sunday he was not seeking war with Iran after
a senior Iranian military commander warned any conflict in the
Gulf region could spread uncontrollably and threaten the lives
of U.S. troops. The financial sector .SPSY rose 0.39% after the 18 largest
banks operating in the United States cleared the first stage of
their yearly health checks with the U.S. Federal Reserve that
assess their ability to weather a major economic downturn.

Among other stocks, shares of casino operator Caesars
Entertainment Corp CZR.O jumped 14.5% after rival Eldorado
Resorts Inc ERI.O said it agreed to buy the company for $8.5
billion. Shares of Eldorado fell 9%. United Technologies Corp UTX.N gained 0.78% after Cowen &
Co upgraded shares of the building and aerospace supplier to
"outperform" from "market perform".
Advancing issues outnumbered decliners by a 1.16-to-1 ratio
on the NYSE. Declining issues outnumbered advancers for a
1.18-to-1 ratio on the Nasdaq.
The S&P index recorded 26 new 52-week highs and three new
lows, while the Nasdaq recorded 34 new highs and 37 new lows.