US STOCKS-Wall St at record levels on trade hopes, robust economic data

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* Data shows U.S. economic growth picked up slightly in Q3
* Under Armour jumps on Raymond James upgrade
* Deere falls after warning of lower earnings
* Indexes: S&P up 0.13%, Nasdaq up 0.31%, Dow off 0.08%

(Updates to open)
By Arjun Panchadar
Nov 27 (Reuters) - Wall Street's main indexes notched fresh
record highs on Wednesday, as latest data pointed to a resilient
domestic economy and investors remained optimistic about a
resolution to the prolonged U.S.-China trade war.
Data showed growth picked up slightly in the third quarter,
rather than slowing as initially reported, while U.S. consumer
spending rose steadily in October, suggesting the economy will
probably maintain its moderate pace of expansion in the fourth
quarter. The data added to the upbeat mood on a trade deal, fueled by
comments on Tuesday from President Donald Trump that the United
States was in the "final throes" of work on an agreement.
"There's that drumbeat about an impending trade deal and
that's going to keep stocks moving higher," said Kim Forrest,
chief investment officer at Bokeh Capital Partners in
Pittsburgh.
The three major U.S. stock indexes have hit record highs
this month on expectations of a trade truce and fairly solid
third-quarter earnings.
At 10:05 a.m. ET, the S&P 500 .SPX was up 4.21 points, or
0.13%, at 3,144.73 and the Nasdaq Composite .IXIC was up 26.91
points, or 0.31%, at 8,674.84. But the Dow Jones Industrial
Average .DJI was down 21.34 points, or 0.08%, at 28,100.34,
weighed down by Boeing Co BA.N .
Shares of Boeing dipped 1.3% after the Federal Aviation
Administration said it would be the only issuer of airworthiness
certificates for all new 737 MAX planes, potentially affecting
the planemaker's timeline of starting deliveries by
December. Another report said Boeing 777X's fuselage
split during a September stress test. Data on Wednesday showed new orders for key U.S.-made
capital goods increased by the most in nine months in October. The Federal Reserve's three interest rate cuts this year
have helped the domestic economy blunt the hit from the trade
war.
Under Armour Inc UAA.N jumped 6.8% as Raymond James
upgraded the sportswear maker's shares to "strong buy" from
"outperform".
Deere & Co DE.N dropped 3.2% as the farm equipment maker
warned of lower earnings in fiscal year 2020 after reporting a
fall in quarterly profit. Trading volumes are expected to be light ahead of the
Thanksgiving Day holiday on Thursday and an early market close
on Black Friday.
Advancing issues outnumbered decliners by a 1.65-to-1 ratio
on the NYSE and by a 1.94-to-1 ratio on the Nasdaq.
The S&P index recorded 32 new 52-week highs and no new low,
while the Nasdaq recorded 61 new highs and 14 new lows.