US STOCKS-Wall St slips, Wal-Mart biggest drag
* Wal-Mart biggest drag on Dow, S&P
* Housing starts jump to 7.5-yr high
* Indexes down: Dow 0.06 pct, S&P 0.06 pct, Nasdaq 0.1 pct (Updates prices)
By Sweta Singh
May 19 (Reuters) - U.S. stock fell on Tuesday, dragged down by Wal-Mart's weak results and after a rally that took the Dow Jones industrial average and the S&P 500 to record closing highs.
Stronger-than-expected housing data also suggested that the Federal Reserve could have room to raise interest rates sooner rather than later.
U.S. housing starts jumped to their highest level in nearly 7-1/2 years in April and permits soared.
A stream of weak economic data through last week suggested that Fed would wait to see more strength in the economy before raising rates.
Markets have been pushed higher by the fact that there is nowhere else to invest, said Peter Cardillo, chief market economist at Rockwell Global Capital in New York. Continuación...