US STOCKS-Wall Street drifts higher after upbeat U.S. business surveys

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* Deere boosts S&P industrials index after results
* Apple rises for the fourth day in a row
* U.S. existing home sales hit 14-year high in July
* U.S. business activity surges to early 2019 levels
* Indexes up: Dow 0.25%, S&P 0.04%, Nasdaq 0.27%

(Adds comment, details; updates prices)
By Medha Singh and Sruthi Shankar
Aug 21 (Reuters) - Wall Street's main indexes nudged higher
on Friday with the tech-heavy Nasdaq notching another record
high, as data highlighted the pockets of strength in the U.S.
economy.
Business activity snapped back to the highest since early
2019 in the United States in August as companies in both the
manufacturing and services sectors saw a resurgence in new
orders, IHS Markit surveys showed. Another report showed U.S. home sales rose at a record pace
for a second straight month in July and home prices hit all-time
highs. The unexpectedly sharp increases in Markit's indexes
continue a pattern of choppy U.S. economic data this week -
including weekly jobless claims - that paint a picture of a
fitful recovery from the COVID-19 recession.
Nonetheless, bets on technology-focused companies including
Apple Inc AAPL.O and Amazon.com AMZN.O to ride out the
economic uncertainty have set the S&P 500 and the Nasdaq on
track to close out the week higher.
"The uncertainty and choppiness are driving people back to
some of the more traditional trades that have stayed immune
through the course of the pandemic," said Mike Stritch, chief
investment officer at BMO Wealth Management in Chicago.
On Tuesday, the S&P 500 clinched a record high, recouping
the last of its losses caused by the coronavirus-driven slump
and joining the Nasdaq in notching new highs.
The Dow still remains about 6% below its peak in February.
Investors also worry about a stalemate in talks between
House Democrats and the White House over the next coronavirus
aid bill as about 28 million Americans continued to collect
unemployment cheques. "The market will move higher, but it will be very slow and
irregular one, at least until there's a vaccine," said Chuck
Lieberman, chief investment officer at Advisors Capital
Management.
At 11:06 a.m. ET, the Dow Jones Industrial Average .DJI
was up 68.71 points, or 0.25%, at 27,808.44, the S&P 500 .SPX
was up 1.46 points, or 0.04%, at 3,386.97. The Nasdaq Composite
.IXIC was up 30.40 points, or 0.27%, at 11,295.35.
Technology .SPLRCT , consumer discretionary .SPLRCD and
industrials .SPLRCI were the only major S&P sectors in
positive territory.
Apple Inc AAPL.O gained another 3.9%, rising for the
fourth straight day.
Deere & Co DE.N rose 5% after the world's largest farm
equipment maker revised up its full-year earnings forecast.
Tesla's shares TSLA.O added another 2.6% after surging
past the $2,000 mark on Thursday for the first time and
extending its rally ahead of an upcoming share split.

Declining issues outnumbered advancers for a 2.57-to-1 ratio
on the NYSE and for a 2.69-to-1 ratio on the Nasdaq.
The S&P index recorded 14 new 52-week highs and no new low,
while the Nasdaq recorded 37 new highs and 18 new lows.