US STOCKS-Wall Street flat as virus cases rise; tech stocks advance

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* U.S. carriers fall amid fears of a virus resurgence
* American Airlines to raise $3.5 bln in new financing
* Virgin Galactic rises on deal for private space missions
* Dow and S&P flat, Nasdaq up 0.42%

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By Medha Singh
June 22 (Reuters) - The S&P 500 and Dow Jones indexes were
largely flat on Monday as investors weighed the implications of
rising coronavirus infections for business activity while the
tech-heavy Nasdaq rose for a seventh session.
The World Health Organization reported a record rise in
global coronavirus cases on Sunday, driving demand for perceived
safe-havens, including gold and longer-term U.S. Treasuries.
Travel-related stocks, one of the worst-hit sectors due to
the outbreak, fell. The S&P 1500 airlines index .SPCOMAIR
dropped 2.1%, while shares of cruise operators Norwegian Cruise
Line NCLH.N and Royal Caribbean Cruises RCL.N tumbled about
8% each.
"Investors are keeping a keen eye on how the consumer
behavior adjusts itself to the rise in cases," said Keith
Buchanan, portfolio manager at GLOBALT in Atlanta.
"Unless we see consumer confidence get back and resume
activities, it might definitely create some anxiety on how the
market looks at risk assets."
The S&P 500 is trading in a tight range of late as several
U.S. states, mainly in the West and South, have reported a surge
in cases, with Apple Inc's AAPL.O move to temporarily shut
some U.S. stores again on Friday underscoring concerns of a
delay in the recovery.
The benchmark index has climbed some 40% from its March lows
thanks to trillions of dollars in monetary and fiscal support,
the reopening of businesses and improving economic data.
It is now just about 9% off its Feb. 19 record high.
Technology stocks .SPLRCT , which have powered much of the
rebound, provided the biggest boost to the benchmark index. Five
of the 11 major S&P sectors were higher.
At 11:21 a.m. ET, the Dow Jones Industrial Average .DJI
was down 12.29 points, or 0.05%, at 25,859.17, the S&P 500
.SPX was up 2.24 points, or 0.07%, at 3,099.98. The Nasdaq
Composite .IXIC was up 41.66 points, or 0.42%, at 9,987.78.
U.S.-based meat processor Tyson Inc TSN.N slipped 3.5% as
China's customs authority suspended imports of poultry products
from a plant owned by the company that had been hit by the
coronavirus. American Airlines Group Inc AAL.O fell 6.8% as it planned
to secure $3.5 billion in new financing by selling shares and
convertible senior notes to boost liquidity. Virgin Galactic Holdings Inc SPCE.N soared 10.1% as it
signed up with NASA to develop a program to promote private
missions to the International Space Station. Declining issues outnumbered advancers for a 1.32-to-1 ratio
on the NYSE and for a 1.26-to-1 ratio on the Nasdaq.
The S&P index recorded seven new 52-week highs and no new
low, while the Nasdaq recorded 84 new highs and six new lows.