US STOCKS-Wall St flat, on tenterhooks over ECB action
* Stocks slide after Draghi speaks, rebound on action hopes
* Major indexes trading mostly flat (Updates prices, adds comment)
By Rodrigo Campos
NEW YORK, Dec 4 (Reuters) - U.S. stocks were little changed on Thursday, bouncing from initial losses after European Central Bank President Mario Draghi brushed off pressure for more immediate monetary policy action, saying the issue would be addressed early next year.
Draghi said the ECB would reassess the impact of its monetary policy stimulus early in 2015 and take further action if necessary, but didn't mention a specific timeline. Major indexes briefly turned positive in early afternoon trading, with market participants citing speculation over a specific ECB plan for action in January.
That rebound was shortlived but stocks were still far from session lows.
"I don't think Mario Draghi took anything off the table," said Art Hogan, chief market strategist at Wunderlich Securities in New York. "It's a matter of when, not if. All of the things he said were constructive except for the fact that they didn't do anything. So I think the buzz around that is going to continue until it happens."
Energy sector stocks were the largest weight on the S&P 500 with a 0.5 percent drop that follows three days of gains in which they advanced 3.2 percent. The sector is down 7.8 percent year-to-date as crude oil prices tumbled.
At 1:12 p.m. EST (1812 GMT), the Dow Jones industrial average fell 1.09 points, or 0.01 percent, to 17,911.53, the S&P 500 lost 1.12 points, or 0.05 percent, to 2,073.21 and the Nasdaq Composite added 4.35 points, or 0.09 percent, to 4,778.82. Continuación...