US STOCKS-S&P 500 ends higher as traders weigh stimulus and virus worries

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* Netflix tumbles as subscriber growth forecast disappoints
* BlackRock rises on profit boost

(Updates to close)
By Noel Randewich
July 17 (Reuters) - The S&P 500 ended higher on Friday as
investors weighed the prospect of more fiscal stimulus against
fears of further business disruptions due to a record rise in
COVID-19 cases.
Netflix NFLX.O tumbled after the video streaming service
forecast slower-than-expected subscriber growth during the third
quarter, pulling the communication services sector .SPLRCL
down 0.9%. The S&P 500 utilities .SPLRCU , real estate .SPLRCR and
healthcare .SPXHC indexes were among the session's strongest
gainers.
The S&P 500 and the Dow rose for the week after optimism
over an eventual coronavirus vaccine and hopes of a
post-pandemic economic recovery helped investors look past a
continuous surge in COVID-19 cases. The United States witnessed
77,000 new infections on Thursday. The Nasdaq ended lower for the week as investors sold shares
of high-flying companies including Microsoft Corp MSFT.O and
Amazon.com Inc AMZN.O and moved into cyclical sectors.
Next week, second-quarter earnings season shifts into high
gear with reports expected from corporate heavyweights including
Microsoft MSFT.O , Tesla TSLA.O , Intel INTC.O and Verizon
Communications VZ.N .
With this year largely written off as a disaster for U.S.
corporations because of the coronavirus, investors are looking
for information from companies about the potential size and
timing of an eventual recovery.
“The question is what 2021 and 2022 look like, and what can
folks glean from the commentary, especially when companies have
withdrawn their guidance and made it difficult to get a sense of
what their prospects look like,” said Tom Hainlin, National
Investment Strategist at U.S. Bank Wealth Management.
Unofficially, the Dow Jones Industrial Average .DJI fell
62.25 points, or 0.23%, to 26,672.46, the S&P 500 .SPX gained
9.17 points, or 0.29%, to 3,224.74 and the Nasdaq Composite
.IXIC added 29.36 points, or 0.28%, to 10,503.19.
Unprecedented stimulus measures and improving economic data
have helped the S&P 500 rise to within about 5% of its February
record high.
Investors are also hoping for more fiscal support as a
program that offers additional unemployment benefits is set to
expire on July 31. The U.S. Congress will return to Washington
on Monday to debate another coronavirus aid bill. "Both Republicans and Democrats have a strong incentive to
agree upon further pre-election stimulus. It's not a matter of
'if' a stimulus passes, it's just what the size and content of
that package looks like," said Andrea Bevis, senior vice
president, UBS Private Wealth Management, based in Boston.
BlackRock Inc BLK.N , the world's largest asset manager,
rose after reporting a jump in quarterly profit as investors
poured money into its fixed-income funds and cash management
services. (Reportig by Noel Randewich; Additional reporting by Devik Jain
and Medha Singh in Bengaluru
Editing by Marguerita Choy)