* Stocks set for fifth straight session of gains
* Boeing slips on suspension of 737 Max production
* Netflix leads gains on S&P 500
* J&J up nearly 1% on stock upgrade
* November manufacturing output rises more-than-expected
* Dow & S&P up 0.1%, Nasdaq flat
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By Uday Sampath Kumar
Dec 17 (Reuters) - U.S. stocks paused after a four-day
rally, but still hovered around record levels on Tuesday, while
a fall in Boeing's shares weighed on the Dow as the crisis
surrounding the planemaker's 737 MAX jet deepened.
The S&P 500 edged to a record high for the fourth straight
session and was set to build on its 27% gain this year, driven
mainly by expectations of a U.S.-China trade deal, a dovish
Federal Reserve and upbeat economic indicators.
Reinforcing confidence in the U.S. economy, data from the
Federal Reserve showed manufacturing output rose more than
expected in November, as the end of a strike at General Motors
GM.N plants boosted auto production. However, a 1% fall in Boeing BA.N dragged on the Dow Jones
.DJI . The company said it would suspend production of its
best-selling aircraft in January in its biggest assembly-line
halt in more than two decades. The energy sector .SPNY was among the biggest gainer on
the S&P 500 .SPX , tracking a rise in oil prices. O/R
Gains in all three major indexes over the last three days
have largely been driven by an interim U.S.-China trade
agreement, which was announced on Friday.
However, with little chance of another major update on trade
before the end of the year, analysts say the market will likely
stay around present levels.
"U.S. stocks could start feeling trade optimism fatigue as
we near the holidays," said Edward Moya, senior market analyst
at online trading broker OANDA in New York, adding that a
significant pullback was unlikely.
At 10:31 a.m. ET the Dow Jones Industrial Average .DJI
was up 36.25 points, or 0.13%, at 28,272.14, the S&P 500 .SPX
was up 4.31 points, or 0.14%, at 3,195.76 and the Nasdaq
Composite .IXIC was up 3.40 points, or 0.04%, at 8,817.63.
Netflix Inc NFLX.O rose 3.5% after the streaming service
provider said its growth overseas is accelerating, on the back
of its Asia-Pacific business.
Johnson & Johnson JNJ.N gained 0.9% after reports that
Morgan Stanley upgraded the stock. While there is no major economic news due this week, a
historic vote in the U.S. House of Representatives, likely to
result in the impeachment of President Donald Trump, poses
another risk for investment decisions in the run-up to the 2020
election.
Advancing issues outnumbered decliners for a 1.54-to-1 ratio
on the NYSE and a 1.05-to-1 ratio on the Nasdaq.
The S&P index recorded 33 new 52-week highs and no new low,
while the Nasdaq recorded 85 new highs and 29 new lows.