US STOCKS-Wall Street dips after records, uptrend seen intact

miércoles 11 de junio de 2014 10:18 GYT
 

* World Bank cuts global 2014 outlook

* Traders eye low volume and volatility

* H&R Block rallies after fourth-quarter results

* Indexes down: Dow 0.4 pct, S&P 0.3 pct, Nasdaq 0.1 pct (Updates to open, adds H&R Block results)

By Ryan Vlastelica

NEW YORK, June 11 (Reuters) - U.S. stocks edged lower on Wednesday, with indexes pulling back from record levels, though analysts viewed the market's recent uptrend as intact.

Wall Street has struggled for direction lately, with daily modest moves in either direction. The S&P 500's 0.3 percent decline on Wednesday represented the benchmark index's biggest daily decline since May 20.

In a cautious note, the World Bank late Tuesday cut its global economic growth forecast for 2014 to 2.8 percent from 3.2 percent due to the impact of the Ukraine crisis and a harsh U.S. winter. However, with those issues largely in the rear-view mirror, the World Bank was confident economic activity was shifting to a stronger footing.

While the upward trend still considered intact, a lack of major trading events could limit gains. The Dow ended at a fourth straight record Tuesday, while the S&P 500 closed lower after four days of record finishes.   Continuación...