US STOCKS-Wall St edges down but on track for 4th week of gains

viernes 29 de agosto de 2014 10:25 GYT
 

* Trading expected to be light ahead of holiday

* Indexes on track for fourth straight week of gains

* Chicago PMI, consumer sentiment both top forecasts

* Indexes down: Dow 0.2 pct, S&P 0.1 pct, Nasdaq 0.1 pct (Updates to market open, adds economic data)

By Ryan Vlastelica

NEW YORK, Aug 29 (Reuters) - U.S. stocks were slightly lower on Friday, with investors finding few reasons to extend a long-running rally, even as the latest economic data joined the trend of better-than-expected reports on the economy.

A note of caution entered the market as Britain raised its international terrorism threat level to the second highest level in response to possible attacks being planned in Syria and Iraq. Still, major U.S. indexes remained on track for their fourth straight week of gains.

Stocks have been strong of late, with investors taking any opportunity to buy on dips. However, this week's trading volume has been among the lightest of the year, with action especially muted on Friday, ahead of the Labor Day holiday in the United States for which markets will be closed on Monday.

"Typically after the market goes up this much this quickly, you'd expect some kind of pullback, but we've become conditioned to buy on dips. That's almost ingrained in the market," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.   Continuación...