US STOCKS-Wall St retreats from latest record; utilities lag
* Further upside seen as limited after recent gains
* Trading volume expected to be light in holiday week
* Civeo shares plummet a day after results
* Indexes off: Dow 0.36 pct, S&P 500 0.48 pct, Nasdaq 0.63 pct (Updates to late afternoon trading)
By Chuck Mikolajczak
NEW YORK, Dec 30 (Reuters) - U.S. stocks fell on Tuesday, as the recent rally lost steam to pull major indexes off record levels, while the trend of modest moves and low volume continued moving into the final trading day of the year.
The day's losses were broad, with each of the ten primary S&P 500 sectors in negative territory. Utilities - 2014's best sector performer - led the decline with a drop of 2.1 percent.
Equities have enjoyed a solid rally of late, buoyed by strong economic data and the U.S. Federal Reserve's commitment to be "patient" about raising interest rates. The S&P 500 gained nearly 6 percent over the prior eight sessions and managed to score its 53rd record close of the year on Monday, while the Dow narrowly missed extending its positive streak to eight sessions.
The speed and scale of the rally could push traders to take profits, and volatility could be amplified with many market participants out for the holiday, which dampens volume. The stock market will be closed on Thursday for the New Year's holiday. Continuación...