* GlobalFoundries ( GFS ) falls on report of Mubadala share sale

* JPMorgan's ( JPM ) expense guidance hits bank stocks

* Zscaler ( ZS ) plunges after downbeat Q4 forecast

* Goldman Sachs ( GS ) lifts S&P 500 year-end forecast to 8,000

(Updates with closer)

By Saeed Azhar, Twesha Dikshit and Utkarsh Hathi

NEW YORK, May 27 (Reuters) - Rising healthcare and

consumer stocks boosted the Dow Jones Industrial Average on

Wednesday to a record closing high, while the S&P 500 and the

Nasdaq were steady, as investors took a pause from the AI-led

market rally while cautiously watching Middle East peace

talks.

Banking stocks were down as shares of JPMorgan Chase ( JPM )

slid after CEO Jamie Dimon warned that expenses this year could

be $1 billion higher than estimated.

The White House denied reports from Iran's state TV that

Tehran would restore Strait of Hormuz shipping within a month in

exchange for a U.S. military pullback and the lifting of a naval

blockade.

Still, indexes traded near record highs.

The Dow, which hit closing highs on Friday and Thursday, was

lifted by a rotation into healthcare and consumer stocks such as

Procter & Gamble ( PG ) .

However, a pullback in chip stocks weighed on the tech-heavy

Nasdaq.

According to preliminary data, the S&P 500

gained 1.81 points, or 0.02%, to end at 7,520.93 points,

while the Nasdaq Composite gained 18.55 points, or

0.08%, to 26,676.60. The Dow Jones Industrial Average

rose 189.08 points, or 0.37%, to 50,650.76.

"After such a large run-up in the markets, it's not

surprising to me that there is a little bit of a pause," said

Sean Clark, chief investment officer of Clark Capital Management

Group.

"There's a lot of positives to look at right now. Even

though the outperformers are really being driven by tech, AI and

AI adjacent themes, I wouldn't discount the fact that the broad

market is participating as well."

Among the sub-indexes, consumer discretionary was

leading the gains.

Meanwhile, the S&P 500 energy index fell, tracking a

decline of as much as 5% in oil prices. Tech shares

dropped after reaching an all-time high on Tuesday.

Chip stocks were down after a strong rally. Intel ( INTC )

fell and Marvell Technology ( MRVL ) fell, while Qualcomm ( QCOM )

fell sharply after sharp gains Tuesday.

Chip giant Nvidia ( NVDA ) weakened andthe Philadelphia SE

Semiconductor index lost after hitting a record high on

Tuesday.

"Technology leadership remains difficult to ignore, with the

sector continuing to push to new highs on both an absolute and

relative basis compared to the broader market," said Adam

Turnquist, chief technical strategist, LPL Financial.

"That said, increasingly stretched momentum conditions and

elevated positioning raise questions around the near-term

durability of the advance."

Zscaler ( ZS ) tumbled after the cloud security firm

projected fourth-quarter revenue below expectations.

Among other movers, GlobalFoundries ( GFS ) fell after

Bloomberg News reported that majority owner Mubadala Investment

Company was seeking to raise $1.91 billion from an unregistered

block sale of GFS shares.

Bath & Body Works ( BBWI ) jumped after reporting

first-quarter sales and profit above expectations, while

Abercrombie & Fitch ( ANF ) advanced on posting a strong

quarterly profit.

Goldman Sachs ( GS ) raised its 2026 year-end forecast for the S&P

500 to 8,000 from 7,600, citing continued strength in corporate

earnings.

Markets will next look toward the personal consumption

expenditures index data on Thursday. The Federal Reserve's key

inflation measure could provide fresh clues on the monetary

policy path forward under new chair Kevin Warsh.