US STOCKS-Wall Street catches its breath after recent rally

martes 9 de agosto de 2016 14:31 GYT

* Endo International jumps after profit beat

* Valeant rises on news of business reorganization

* Indexes: Dow and S&P flat, Nasdaq up 0.25 pct (Updates to afternoon)

By Noel Randewich

Aug 9 (Reuters) - Wall Street hovered near record highs on Tuesday as weak oil prices offset gains in healthcare and technology stocks.

The S&P 500 and Nasdaq edged up to all-time highs before a decline in oil dulled the gains.

A rally since late June has left the S&P 500 up nearly 7 percent in 2016, with many investors weighing stretched valuations against expectations for continued low interest rates.

"We're probably going to consolidate and then head higher," said John Canally, chief economic strategist for LPL Financial. "The odds of a U.S. recession are low. The odds of a global recession are low. Central banks are cooperating."

The S&P 500 index's healthcare index rose 0.26 percent, helped by a 21 percent jump in Endo International after the company's quarterly profit beat estimates.   Continuación...