(Reuters) The S&P 500 edged higher late on Wednesday as investors looked to build on strong gains in the last session for a much anticipated year-end rally even as tech shares slumped after disappointing earnings from Oracle dragged the Nasdaq lower.

The Dow Jones industrial average <.DJI> dropped 4.16 points, or 0.03 percent, to 12,099.42. The Standard & Poor's 500 Index <.SPX> gained 1.31 points, or 0.11 percent, to 1,242.61. The Nasdaq Composite Index <.IXIC> dropped 30.39 points, or 1.17 percent, to 2,573.34.