US STOCKS-S&P 500, Nasdaq at record highs ahead of Trump speech

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* Trump set to talk in New York on trade policy
* Walt Disney gains after Disney+ launch
* Rockwell climbs after profit beat
* CBS drops on revenue miss
* Indexes up: Dow 0.16%, S&P 0.38%, Nasdaq 0.50%

(Updates market action)
By Arjun Panchadar
Nov 12 (Reuters) - The S&P 500 and Nasdaq indexes rose to
record highs on Tuesday as trade-sensitive technology stocks
gained ahead of a much-awaited speech by President Donald Trump,
which was likely to provide some clarity on the U.S.-China
tariff talks.
Hopes of a resolution to the 16-month long tariff dispute
and a strong corporate earnings season have powered Wall
Street's gains so far this month.
All 11 major S&P 500 sectors were trading higher, with the
technology sector's .SPLRCT 0.53% rise providing the biggest
boost, followed by healthcare shares .SPXHC .
The Philadelphia Semiconductor index .SOX gained 0.84%.
Trump is scheduled to discuss the country's trade policy at
the Economic Club of New York later on Tuesday and markets are
likely to hang on to every word. "There is some optimism that Trump will tell people
something they like to hear, whether it's the civics or a
general delay in tariffs," said Willie Delwiche, investment
strategist at Baird in Milwaukee.
"The focus is very much on those expectations on 'if not
good news then at least the avoidance of bad news' from Trump."
About three quarters of the S&P 500 companies that have
reported results so far have topped analysts' profit
expectations, according to Refinitiv data.
A fresh set of economic data is also expected later this
week. Retail sales in October is expected to rebound from a
surprise contraction in the previous month and industrial
production is likely to decline by the same measure as last
month.
Federal Reserve Chair Jerome Powell will give his comments
on the domestic economic outlook this week.
At 11:40 a.m. ET the Dow Jones Industrial Average .DJI was
up 43.08 points, or 0.16%, at 27,734.57, the S&P 500 .SPX was
up 11.65 points, or 0.38%, at 3,098.66 and the Nasdaq Composite
.IXIC was up 42.67 points, or 0.50%, at 8,506.95.
Walt Disney Co DIS.N rose 1.62% as the company launched
its widely awaited streaming service, Disney+. Netflix NFLX.O
shares were down 0.6%. Rockwell Automation Inc ROK.N jumped 12.5% as the factory
automation equipment maker beat fourth-quarter profit
expectations.
CBS Corp CBS.N dropped 2% after the media company missed
quarterly revenue estimates. Shares of Viacom Inc VIAB.O ,
which is merging with CBS, were also down nearly 2%.
Advancing issues outnumbered decliners by a 1.42-to-1 ratio
on the NYSE and a 1.36-to-1 ratio on the Nasdaq.
The S&P index recorded 38 new 52-week highs and one new low,
while the Nasdaq recorded 91 new highs and 61 new lows.