NEW YORK (Reuters) - The Dow rose on Tuesday as investors scooped up defensive shares, including Pfizer (PFE.N), while energy companies' stocks climbed as oil hit a six-month high.
But the S&P was little changed and the Nasdaq fell as financial and technology shares declined after leading the recent rally from bear market lows.
Shares of Pfizer posted the biggest percentage gain in the Dow, rising 5.5 percent to $14.93, after positive comments from analysts at Credit Suisse First Boston following a meeting with the drug company's management.
Energy shares also supported the market as U.S. crude oil futures briefly touched $60 a barrel before settling up 35 cents at $58.85 on hopes an economic recovery may bolster fuel demand. Exxon Mobil Corp (XOM.N) rose 2.2 percent to $70.82.
But worries over whether an apparent lack of incentives to drive the market higher would put an end to the rally helped put a cap on gains.
"We're right at the precipice and people can't decide if the rally's still got room left or if we're priced about right and due for a sell-off," said Warren Simpson, managing director at Stephens Capital Management in Little Rock, Arkansas.
"The safe-haven mantra is back in force a bit today because obviously, we're not out of the woods yet."
The Dow Jones industrial average .DJI rose 50.34 points, or 0.60 percent, to 8,469.11. The Standard & Poor's 500 Index .SPX was off 0.89 points, or 0.10 percent, to 908.35. The Nasdaq Composite Index .IXIC was down 15.32 points, or 0.88 percent, at 1,715.92. more...
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