US STOCKS-Wall St recedes modestly from record levels

martes 10 de junio de 2014 10:14 GYT

* S&P has ended higher 11 times in past 13 sessions

* Losses broad, but "momentum" stocks outperform

* Achillion Pharma jumps in heavy volume

* Indexes down: Dow 0.2 pct S&P 500 0.3 pct, Nasdaq 0.3 pct (Updates to open)

By Ryan Vlastelica

NEW YORK, June 10 (Reuters) - U.S. stocks fell modestly on Tuesday as investors found few reasons to keep buying with the Dow and S&P 500 coming off a string of record highs.

The day's losses were slight but broad, with nine of the ten primary S&P 500 sectors down on the day. However, the biggest declining group, industrials, were down less than 0.4 percent, and many sectors were down less than 0.1 percent.

"Momentum" stocks, which are marked by hyper levels of growth and concerns over valuation, were among the day's biggest outperformers, with a number of Internet names were also higher on the day. Facebook Inc rose 2.6 percent to $64.50 while Netflix Inc was up 2.3 percent to $432.94.

Tuesday's decline comes after a string of gains for Wall Street. The S&P 500 has ended at a record for the past four sessions, and ended higher 11 times in the past 13 sessions.   Continuación...