US STOCKS-S&P edges closer to record high; energy shares lead
* S&P 500 nears its May 2015 record high
* Oil prices hit 2016 highs
* Biogen, Alexion drop after drug trial failures
* Dow up 0.1 pct, S&P up 0.1 pct, Nasdaq down 0.1 pct (Updates to close)
By Caroline Valetkevitch
June 7 (Reuters) - The S&P 500 ended at its best level since July on Tuesday, helped by a big jump in energy shares and investor confidence that higher interest rates will not derail the economy.
The index finished below its best levels of the session, though, while the Nasdaq ended lower. Biotech shares dropped following disappointing news from several key companies including Biogen. The Nasdaq Biotech Index was down 2.5 percent, its biggest daily percentage decline since May 11.
Giving the S&P 500 its biggest boost, the S&P energy index jumped 2.1 percent as oil prices reached 2016 highs due to supply constraints and a weak dollar. Exxon Mobil gained 1.5 percent to $90.71.
Gains this week have once again put the S&P 500 within striking distance of record highs reached in May 2015. Comments from Fed Chair Janet Yellen on Monday seemed to ease some worries about the economy, while underscoring views the Fed may be in no rush to raise rates. Continuación...