REUTERS: The S&P 500 and the Dow Jones Industrial Average slipped on Tuesday, led by losses in oil and healthcare stocks, with investors nervously awaiting the latest in the U.S.-Iran standoff.AdvertisementMicron Technology Inc jumped 6.7per cent after brokerage Cowen & Co upgraded the chipmaker to"outperform", citing earlier-than-expected recovery in the memory market. Microchip Technology Inc rose 5.3per cent after raising the mid-point of its third-quarter sales forecast.
"The reason why we are modestly negative here is the tension in the Middle East and the noise coming out around it," said Phil Blancato, chief executive officer of Ladenburg Thalmann Asset Management in New York."I think the market is being very patient here, just waiting for news from one side or the other."
At 11:25 a.m. ET the Dow Jones Industrial Average was down 23.62 points, or 0.08per cent, at 28,679.76, the S&P 500 was down 1.99 points, or 0.06per cent, at 3,244.29 and the Nasdaq Composite was up 16.94 points, or 0.19per cent, at 9,088.40.