* Indexes up: Dow 0.36%, S&P 0.02%, Nasdaq up 0.07%

* 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 closing prices)

By Saeed Azhar, Twesha Dikshit and Utkarsh Hathi

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

consumer stocks lifted 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

rally while cautiously watching Middle East peace talks.

Fractional gains were enough to push the S&P 500 index and

Nasdaq to closing record highs for the second day in a row.

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

slid 2.4% after CEO Jamie Dimon warned that expenses this year

could be $1 billion higher than estimated.

U.S. Secretary of State Marco Rubio said there has been some

progress in negotiations with Iran toward a deal. Yet President

Donald Trump said the U.S. and Iran still have issues to resolve

and Iran's Fars News has said unresolved issues remain.

The Dow, which also hit closing highs on Friday and

Thursday, was lifted by a rotation into healthcare and consumer

stocks. Procter & Gamble ( PG ) shares rose 3.2%. UnitedHealth ( UNH )

climbed 1.9%.

A pullback in chip stocks weighed on the tech-heavy Nasdaq.

The Dow Jones Industrial Average rose 182.60 points,

or 0.36%, to 50,644.28, the S&P 500 gained 1.24 points,

or 0.02%, to 7,520.36 and the Nasdaq Composite gained

18.55 points, or 0.07%, to 26,674.74.

"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, up 1.9%.

Meanwhile, the S&P 500 energy index fell 1.5%,

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 1.4% and Marvell Technology ( MRVL ) dropped 4.6%, while

Qualcomm ( QCOM ) fell 6% after sharp gains on Tuesday.

Chip giant Nvidia ( NVDA ) weakened by 1% andthe

Philadelphia SE Semiconductor index lost 1.4% 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 at LPL Financial.

"That said, increasingly stretched momentum conditions and

elevated positioning raise questions around the near-term

durability of the advance."

Zscaler ( ZS ) tumbled 31.5% after the cloud security firm

projected fourth-quarter revenue below expectations.

Among other movers, GlobalFoundries ( GFS ) fell 9.8% 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 9.7% 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.

Advancing issues outnumbered decliners by a 1.13-to-1 ratio

on the NYSE. There were 453 new highs and 99 new lows on the

NYSE.

On the Nasdaq, 2,420 stocks rose and 2,498 fell as declining

issues outnumbered advancers by a 1.03-to-1 ratio.

The S&P 500 posted 37 new 52-week highs and 8 new lows while

the Nasdaq Composite recorded 169 new highs and 74 new lows.

Volume on U.S. exchanges was 18.81 billion shares, compared

with the 18.78 billion average for the full session over the

last 20 trading days.