US STOCKS-Wall St pulls back from record; utilities slump

martes 30 de diciembre de 2014 17:22 GYT

* Utilities drop more than 2 percent

* Trading volume light in holiday week

* Civeo shares plummet a day after results

* Indexes off: Dow 0.39 pct, S&P 500 0.49 pct, Nasdaq 0.61 pct (Updates to close)

By Chuck Mikolajczak

NEW YORK, Dec 30 (Reuters) - U.S. stocks fell on Tuesday as investors engaged in profit-taking to pull major indexes from record levels, while the trend of modest moves and low volume continued heading 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.

The speed and scale of the rally provided incentive to take profits, and amplified volatility is possible this week 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...