S&P 500 Edges Higher Early Tuesday

NEW YORK (AP) -- U.S. stock indexes held close to their record levels on Tuesday, and the Standard & Poor's 500 edged higher as calm continues to reign over markets around the world.

Rising health care stocks helped to overshadow weakness for telecoms and other dividend-paying stocks, which fell as bond yields rose.

KEEPING SCORE: The S&P 500 was up 1 point, or 0.1 percent, to 2,749, as of 10 a.m. Eastern time. If the index ends the day higher it would match the longest winning streak to start a year since 2010, at six days.

The Dow Jones industrial average rose 48 points, or 0.2 percent, to 25,331, the Nasdaq composite lost 5 points, or 0.1 percent, to 7,152 and the Russell 2000 index of small-cap stocks was virtually flat.

HEALTHY GAINS: Health care stocks rose 0.7 percent for one of the biggest gains among the 11 sectors that make up the S&P 500. They more than made up their losses from the prior day.

Boston Scientific was at the front of the pack after it gave preliminary results for its revenue last quarter, which were stronger than Wall Street was expecting. The medical device company's shares jumped $1.25, or 4.8 percent, to $27.06.

SEASON'S GREETINGS: Target became the latest retailer to say it enjoyed a strong holiday season, and it raised its profit forecast for the year. The company also credited lower tax rates, which Washington approved last month as part of its tax overhaul, for the brighter outlook.

Target rose $1.65, or 2.5 percent, to $68.83.

FOLLOWING THE MOMENTUM: Stocks have been steadily rising for more than a year as investors bask in an economy where countries around the world are finally all growing in sync. Corporate profits are also on the upswing, and the recently passed tax cut should goose earnings even higher.

Strategists at Goldman Sachs say the tax overhaul will contribute more than a third of the expected 14 percent growth they're forecasting for S&P 500 earnings per share.

Later this week, companies will begin reporting their results for the last three months of 2017, and investors are waiting to hear what CEOs will say about the tax overhaul's effect on their bottom lines.

DIVIDENDS DULLED: Telecom stocks and utilities lagged well behind the market. They offer some of the market's biggest dividend yields, which means their stocks often move in the opposite direction of bond yields.

The yield on the 10-year Treasury note rose to 2.51 percent from 2.48 percent late Monday, which raises their appeal relative to dividend-paying stocks for investors seeking income.

Telecom stocks and utility stocks in the S&P 500 each fell 0.9 percent, tied for the worst performance in the index.

MARKETS ABROAD: Japan's Nikkei 225 added 0.6 percent, Hong Kong's Hang Seng rose 0.4 percent and the Shanghai Composite inched up 0.1 percent. South Korea's Kospi lost 0.1 percent.

The CAC 40 in France rose 0.6 percent, the DAX in Germany edged up 0.1 percent and the FTSE 100 in London gained 0.4 percent.

CURRENCIES: The dollar fell to 112.71 Japanese yen from 113.07 yen late Monday. The euro fell to $1.1922 from $1.1965, and the British pound dipped to $1.3511 from $1.3564.

COMMODITIES: Benchmark U.S. crude oil rose 24 cents to $61.97 per barrel. Brent crude, the international standard, gained 10 cents to $67.88 per barrel.

Gold fell $9.50 to $1,310.90 per ounce.

(BE)