*

Indexes: Dow up 0.22%, S&P 500 down 0.11%, Nasdaq off

0.14%

*

UnitedHealth ( UNH ) surges after Berkshire Hathaway ( BRK/A ) investment

*

Applied Materials drops on weak China demand forecast

*

Investors monitor Trump-Putin summit at Alaska

(Updates to after markets open)

By Johann M Cherian and Sanchayaita Roy

Aug 15 (Reuters) -

The blue-chip Dow briefly hit a record high on Friday, as

UnitedHealth's ( UNH ) shares jumped after Berkshire Hathaway ( BRK/A ) raised its

stake in the health insurer, while investors assessed mixed data

to gauge the Federal Reserve's monetary policy path this year.

UnitedHealth Group ( UNH ) gained 11.6% to hit a more than

two-month high after Warren Buffett's company revealed

a new investment in the health insurer, while Michael Burry's

Scion Asset Management also turned more bullish on the company.

Rising costs in the broader healthcare sector and an about

40% slump in heavyweight UnitedHealth's ( UNH ) shares this year have

left the Dow lagging its Wall Street peers on the road to

record highs. The price-weighted index last scaled an all-time

high on December 4.

This week, however, the healthcare sector is

the top performer on the S&P 500 and is on track for its best

weekly performance since October 2022.

Other insurance stocks Centene ( CNC ) and Molina

gained 5.2% each.

A report showed retail sales in July rose as expected, but

the University of Michigan's index tracking consumer confidence

fell more than expected to 58 as inflation expectations rise.

"As long as consumer spending holds up and companies are

able to retain workers because of that robust spending, the

flywheel can continue to spin, pushing corporate profits and

stock prices higher," said Chris Zaccarelli, chief investment

officer for Northlight Asset Management, speaking on the retail

sales figures.

At 10:11 a.m. ET, the Dow Jones Industrial Average

rose 99.11 points, or 0.22%, to 45,011.45, the S&P 500

lost 7.39 points, or 0.11%, to 6,461.15 and the Nasdaq Composite

lost 30.70 points, or 0.14%, to 21,681.10.

Wall Street's main U.S. stock indexes are on track for their

second week of gains, buoyed by expectations that the Fed could

restart its monetary policy easing cycle with a 25-basis-point

interest rate cut in September.

The central bank last lowered borrowing costs in December

and said U.S. tariffs could add to price pressures. However,

recent labor market weakness and signs that tariff-induced

inflation was yet to reflect in headline consumer prices have

made investors confident of a potential dovish move next month.

Still, Chicago Fed President Austan Goolsbee said recent

data reports showed a stagflationary impulse from tariffs on the

economy.

On the trade front, U.S. President Donald Trump said he

would unveil tariffs on steel and semiconductors next week.

Applied Materials tumbled 11.3% after the chip equipment

maker issued weak fourth-quarter forecasts.

Intel ( INTC ) rose 3% after a report said the Trump

administration was in talks for the U.S. government to

potentially take a stake in the chipmaker.

Attention was also on a meeting between Trump and Russian

counterpart Vladimir Putin that markets hope could pave the way

for a resolution to the Ukraine conflict. The meeting will take

place at 1900 GMT.

Declining issues outnumbered advancers by a 1.22-to-1 ratio

on the NYSE and a 1.31-to-1 ratio on the Nasdaq.

The S&P 500 posted 8 new 52-week highs and no new lows

while the Nasdaq Composite recorded 52 new highs and 45 new

lows.

(Reporting by Johann M Cherian and Sanchayaita Roy in

Bengaluru; Editing by Devika Syamnath)