3 major stock indexes inch up after Monday's pause

NEW YORK — The three major stock indexes moved slightly higher Tuesday as health-care companies rallied on the results of UnitedHealth Group, outweighing declines in energy companies.

Tiffany jumped after it reported better quarterly results than analysts expected.

The Dow Jones industrial average and S&P 500 inched up 0.1% each. The Nasdaq composite climbed 0.2%. Earlier, it hovered around its record closing high of 5,398.92, set Friday, before scaling back a bit.

It was the second straight down day for the broad Russell 2000, however, which slipped 0.1%. Monday's skid of 1.4% snapped an amazing 15-day win streak, its longest in 20 years.

UnitedHealth (UNH), the largest U.S. health insurer, backed its forecast for this year and said it expects its earnings to grow in 2017. That’s because of stable medical costs, less exposure to Affordable Care Act health care exchanges, and growth for Optum, a business that manages pharmacy benefits, runs clinics and doctors’ offices and provides technology services.

The Dow component climbed 3.7%. Other health care stocks also rallied. Alexion Pharmaceuticals (ALXN), AbbVie (ABBV) and Aetna (AET) each rose 2% or more.

OPEC nations meet Wednesday to try to finalize a deal that would reduce oil production, but the possibility of a deal seems to be falling apart. Saudi Arabia’s representatives have sounded skeptical while Iran is hesitant to limit its own output as it ramps up production following years of international sanctions.

Among energy stocks, oil giants Exxon Mobil and Chevron fell roughly 1% each.

The dollar rose to 112.77 yen from 112.26 yen. The euro rose to $1.0630 compared with $1.0597 yesterday.

Bond prices declined. The yield on the 10-year Treasury note rose to 2.34% from 2.31%.

London’s FTSE 100 index shed 0.4% while France’s CAC 40 advanced 0.9% and Germany’s DAX rose 0.4%.