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

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* Deere & Co up after raising earnings target
* Apple rises for the fourth day in a row
* Indexes up: Dow 0.24%, S&P 0.09%, Nasdaq 0.06%

(Updates to market open)
By Medha Singh
Aug 21 (Reuters) - U.S. stock indexes eked out gains on
Friday, supported by Apple's shares, while data showing business
activity snapped back to the highest since early 2019 also
lifted the sentiment.
Data firm IHS Markit said its flash U.S. Composite PMI Index
rose to a reading of 54.7 this month from 50.3 in July as
companies in both the manufacturing and services sectors saw a
resurgence in new orders. The unexpectedly sharp increases in Markit's indexes
continue a pattern of choppy U.S. economic data that paint a
picture of a fitful recovery from the COVID-19 recession.
On Thursday, the Labor Department's report showed weekly
jobless claims shot back above 1 million mark last week.
However, investors' bet on technology-focused companies
including Apple Inc AAPL.O and Amazon.com AMZN.O to ride out
the pandemic helped the three main indexes close higher in the
previous session.
Earlier this week, 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.
"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.
"We're still gradually reopening, and setbacks are on their
way. It makes people concerned at times."
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. At 10:06 a.m. ET, the Dow Jones Industrial Average .DJI
was up 65.61 points, or 0.24%, at 27,805.34, the S&P 500 .SPX
was up 2.98 points, or 0.09%, at 3,388.49. The Nasdaq Composite
.IXIC was up 7.15 points, or 0.06%, at 11,272.10.
Financials .SPSY , industrials .SPLRCI and technology
.SPLRCT posted the steepest percentage gains among major S&P
sectors.
Apple gained another 2%, rising for the fourth straight day.
Deere & Co DE.N rose 4.5% after the world's largest farm
equipment maker revised up its full-year earnings forecast.
Tesla's shares TSLA.O added another 2.1% 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 1.97-to-1 ratio
on the NYSE and for a 2.31-to-1 ratio on the Nasdaq.
The S&P index recorded eight new 52-week highs and no new
low, while the Nasdaq recorded 22 new highs and 10 new lows.