US STOCKS-Dow, S&P 500 dip as data lift ebbs; Nasdaq up on biotech

martes 24 de junio de 2014 14:43 GYT

* S&P 500 pulls back a bit after hitting intraday record

* Vertex soars after clinical trial; Micron up on outlook

* Consumer confidence at six-year high; new home sales top expectations

* Dow off 0.5 pct; S&P 500 off 0.3 pct; Nasdaq up 0.1 pct (Updates to mid-afternoon, changes byline)

By Chuck Mikolajczak

NEW YORK, June 24 (Reuters) - U.S. stocks mostly slipped on Tuesday as earlier gains from economic data faded, but the Nasdaq advanced as a result of gains in biotech shares.

In the latest signs of improving economic conditions, consumer confidence surged more than expected in June, while new home sales in May rose more than anticipated in the latest evidence that the economy has regained momentum after stalling during harsh winter conditions.

The market's earlier gains had lifted the S&P 500 as high as 1,968.17, another intraday record.

"The market obviously responded well to the good economic data earlier - the housing data and of course, the consumer confidence," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.   Continuación...