US STOCKS-Wall St rally loses steam after record run

(For a live blog on the U.S. stock market, click LIVE/ or
type LIVE/ in a news window.)
* Tech stocks weigh on Nasdaq, S&P
* Energy sector top decliner on S&P as oil prices fall
* Match Group falls after weak Q4 revenue forecast
* CVS, Humana gain on upbeat earnings, forecast
* Indexes: Dow and S&P flat, Nasdaq down 0.21%

(Updates to open)
By Arjun Panchadar
Nov 6 (Reuters) - U.S. stocks retreated from record highs on
Wednesday, halting a rally that has been fuelled by signs of
progress in trade talks between Washington and Beijing and a
largely upbeat corporate earnings season.
Losses in shares of Microsoft Corp MSFT.O and Facebook Inc
FB.O weighed the most on the benchmark index and the Nasdaq.
The S&P 500 energy sector .SPNY fell 0.39% and was the
biggest decliner as oil prices fell due to a build up in U.S.
crude stocks and weak euro zone economic figures. O/R
"There is no game changing catalyst on the agenda today that
we could see moving these markets distinctively higher," said
Art Hogan, chief market strategist at National Securities in New
York.
Investor focus remained on further signs of progress on
U.S.-China trade relations, with latest reports saying the two
sides were still working out the details of a "phase one" deal,
which could be signed later this month. Market players are also closely tracking data to assess the
fallout of the trade war on the domestic economy. A fresh crop
of indicators this week has been mixed, with the ISM services
index showing a better-than-expected reading, but nonfarm
productivity falling. The third-quarter earnings season continues to impress, with
the bulk of S&P 500 companies besting analysts' profit
expectations.
To some extent, however, those figures reflect significantly
lowered expectations of analysts who had forecast the first
earnings drop since late 2016, while doubts still linger about
the market's ability to rally much further this year.
At 10:12 a.m. ET the Dow Jones Industrial Average .DJI was
up 4.07 points, or 0.01%, at 27,496.70, and the S&P 500 .SPX
was up 1.08 points, or 0.04%, at 3,075.70. But the Nasdaq
Composite .IXIC was down 17.97 points, or 0.21%, at 8,416.71.
Humana Inc HUM.N rose 2.4% as the health insurer reported
quarterly profit that beat estimates on higher sales of its
government-backed Medicare Advantage health plans. CVS Health Corp CVS.N gained 4.8% after the pharmacy chain
posted a better-than-expected quarterly profit, boosted by its
Aetna health insurance business and pharmacy benefit management
unit. But shares of Capri Holdings Ltd CPRI.N dropped 1.4% after
missing profit estimates, as protests in Hong Kong and negative
Chinese consumer reaction to an "incorrectly labeled" T-shirt
hurt sales of its Versace brand. Match Group Inc MTCH.O slumped 6.5% as the Tinder-owner
forecast fourth-quarter revenue below estimates in the face of
stiff competition from rival online dating services. Its parent
firm, IAC/InterActiveCorp IAC.O , dropped 5.8%. HP Inc HPQ.N jumped 9.4% after a report that Xerox
Holdings Corp XRX.N was considering an offer for the personal
computer maker at a premium to its market value of about $27
billion. Xerox shares were down 2.5%. Advancing issues outnumbered decliners by a 1.06-to-1 ratio
on the NYSE and for a 1.43-to-1 ratio on the Nasdaq.
The S&P index recorded nine new 52-week highs and one new
low, while the Nasdaq recorded 42 new highs and 29 new lows.