US STOCKS-Wall St falls modestly, but retail stocks rally

martes 25 de febrero de 2014 11:25 GYT
 

* Home Depot and Macy's rally after results

* Markets seek direction after rise to all-time high

* Consumer confidence falls more than expected in Feb

* Indexes down: Dow 0.2 pct, S&P 0.2 pct, Nasdaq 0.3 pct

By Ryan Vlastelica

NEW YORK, Feb 25 (Reuters) - U.S. stocks fell modestly on Tuesday, with investors finding few reasons to buy following a rally that took the S&P 500 to an all-time intraday high.

Both Home Depot Inc and Macy's Inc rallied following their results, but the strength in retail stocks was not enough for traders to continue pushing shares higher.

Monday's advance to record levels fully erased the S&P's biggest pullback in more than a year and raised new questions about what catalysts will drive shares decisively higher from here. While the market's upward trend is still viewed as intact, Wall Street ended below its highs on Monday, with the S&P failing to close at a record.

"We're not being aggressive, since valuations aren't spectacular here, but this certainly isn't a time to run to cash," said Rex Macey, chief investment officer at Wilmington Trust in Atlanta, Georgia. "We expect we'll take two steps forward and one step back for a while."   Continuación...