US STOCKS-Wall Street inches lower after string of gains

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* United Technologies, Raytheon weigh on industrials
* Symantec falls after Morgan Stanley downgrade
* Indexes: Dow down 0.2%, S&P down 0.1%, Nasdaq down 0.1%

(Updates to late afternoon)
By Caroline Valetkevitch
NEW YORK, June 11 (Reuters) - U.S. stocks edged lower in
late afternoon trading on Tuesday, as investors paused following
a run of gains tied to optimism over easing trade tensions and
the prospect of an interest rate cut by the Federal Reserve.
Industrials and utilities indexes led the way lower, while a
decline in technology stocks .SPLRCT , including Microsoft Corp
MSFT.O and Adobe Inc ADBE.O , added pressure.
Investors may be reluctant to push stocks higher without a
fresh catalyst for support, some strategists said.
Early enthusiasm for stocks was mostly "follow-through from
some of the news from yesterday," said Jack Ablin, chief
investment officer at Cresset Capital Management in Chicago.
There's "not much else to latch onto.
"My only concern is it's a news-driven market right now, so
all of that is subject to change," Ablin added. "It's not a
trending catalyst."
Data showed U.S. producer prices increased solidly for a
second straight month in May, in line with expectations of
economists polled by Reuters, pointing to a steady pickup in
underlying inflation pressures.
The S&P 500 industrial index .SPLRCI fell 0.9%, weighed
down by losses in United Technologies Corp UTX.N and Raytheon
Co RTN.N .
United Technologies fell 3.9% and Raytheon shed 4.9%, a day
after President Donald Trump gave mixed signals on whether he
believed the $121 billion merger between the companies should go
forward. On Monday, Raytheon had edged higher while
United Technologies lost 3.1%.
The S&P utilities index .SPLRCU on Tuesday was down 1%.
Optimism over Trump's decision late on Friday to hold off
import tariffs on Mexico drove Wall Street up on Monday, even
though the United States warned it would impose tariffs if its
demands were not satisfied. Separately, Trump said Tuesday that he was holding up a
trade deal with China and had no interest in moving ahead unless
Beijing agrees again to four or five "major points," which Trump
did not specify. The Dow Jones Industrial Average .DJI fell 41.26 points,
or 0.16%, to 26,021.42, the S&P 500 .SPX lost 3.75 points, or
0.13%, to 2,882.98 and the Nasdaq Composite .IXIC dropped 9.36
points, or 0.12%, to 7,813.81.
The benchmark S&P 500 .SPX is now just about 2.1% away
from its early May all-time high.
Meanwhile, the market is betting the Fed will cut interest
rates in July and cut two more times this year as Trump's hard
bargaining on trade with Beijing and others could push the
economy back into recession.
Symantec Corp SYMC.O fell after Morgan Stanley downgraded
the antivirus software maker's stock, citing increased
competition.
Declining issues outnumbered advancing ones on the NYSE by a
1.01-to-1 ratio; on Nasdaq, a 1.35-to-1 ratio favored decliners.
The S&P 500 posted 49 new 52-week highs and three new lows;
the Nasdaq Composite recorded 52 new highs and 81 new lows.