US STOCKS-S&P 500 turns lower, telecoms and financials drag

(Updates with S&P 500 turning lower)

NEW YORK, March 12 (Reuters) - The S&P 500 stock index briefly dipped into negative territory on Wednesday, weighed down by a drop in shares of telecommunications companies and a pullback in financial stocks.

Both the Dow and the Nasdaq pared gains.

The Dow Jones industrial average .DJI rose 33.46 points, or 0.28 percent, to 12,190.27. The Standard & Poor's 500 Index .SPX shed 1.42 points, or 0.11 percent, to 1,319.23. The Nasdaq Composite Index .IXIC gained 12.04 points, or 0.53 percent, to 2,267.80. (Reporting by Justin Grant; Editing by Kenneth Barry)