* Dow seeks to extend 11-day winning streak
* Trump to address Congress on Tuesday evening
* Tesla drops on Goldman downgrade
* Indexes up: Dow 0.03 pct, S&P 0.04 pct, Nasdaq 0.04 pct
(Adds details, comments, updates prices)
By Yashaswini Swamynathan
Feb 27 The S&P 500 and the Dow Jones Industrial
Average edged up to record intraday highs on Monday, after
President Donald Trump's said he would make a "big" statement on
infrastructure on Tuesday.
In a meeting with state governors on Monday, Trump said his
administration would be "moving quickly" on regulatory reforms
and that his tax plan would be released after a proposal on
Trump's first address to a joint session of Congress on
Tuesday evening is being closely watched by investors for clues
on how he planned to carry out his agenda of boosting economic
"If we have a market that is willing to accept a roadmap
that says we are going to repeal and replace Affordable Care Act
and then have some form of tax reform by the August recess, I
think the market will continue to be supportive," said Art
Hogan, chief market strategist at Wunderlich Equity Capital
Markets in New York.
Trump's promise a few weeks ago of a "phenomenal" tax
announcement helped rekindle a post-election rally, driving the
main U.S. markets to record highs.
But with details scant on how he planned to implement his
agenda, investors have turned wary and the markets have traded
The Dow hit its 11th straight record close on Friday, even
though the index has not moved more than 1 percent in either
direction since Dec. 7.
At 11:02 a.m. ET (1702 GMT) the Dow was up 6.69
points, or 0.03 percent, at 20,828.45
The S&P 500 was up 0.84 points, or 0.04 percent, at
2,368.18 and the Nasdaq Composite was up 2.56 points, or
0.04 percent, at 5,847.87.
Six of the 11 major S&P 500 sectors were higher, with gains
in energy and financials helping counter losses
in consumer staples.
Among stocks, electric carmaker Tesla fell nearly 4
percent to $246.42 after Goldman Sachs downgraded the company's
stock to "sell" from "neutral" and lowered its price target.
La Jolla Pharmaceutical surged 75 percent to $34.79
following the success of its lead experimental drug in a
Shutterstock dropped 13.4 percent to $44.73 after
the stock image provider reported quarterly revenue that missed
analysts' average estimate.
Advancing issues outnumbered decliners on the NYSE by 1,785
to 1,001. On the Nasdaq, 1,623 issues rose and 1,047 fell.
The S&P 500 index showed 50 new 52-week highs and one new
low, while the Nasdaq recorded 91 new highs and 33 new lows.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by