US STOCKS-Weak oil pulls Wall Street back from record levels
* Exxon top drag on S&P 500, Dow
* Walt Disney rises after results, deal announced overnight
* Indexes down: Dow 0.33 pct, S&P 0.43 pct, Nasdaq 0.51 pct (Updates to afternoon)
By Noel Randewich
Aug 10 (Reuters) - Wall Street retreated from record levels on Wednesday as a drop in oil prices pressured energy stocks and weighed more heavily than a surge in Walt Disney.
A rally since late June has taken the S&P 500 up over 6 percent in 2016, as continued low interest rates encourage investors to buy U.S. equities, although many investors are concerned about high valuations.
The energy index fell 1.04 percent, hurt by a drop in oil prices after the U.S. government reported a surprise crude stockpile build.
Exxon Mobil's 1.48 percent drop was the top drag on the S&P 500 and the Dow.
"Once we saw inventories this morning, that certainly moved energy far lower and dragged almost everything else down," said Tim Dreiling, regional investment director for The Private Client Reserve of U.S. Bank. Continuación...