US STOCKS-Wall St edges lower, but Dow and S&P remain near records

Wed May 14, 2014 10:20am EDT
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* Investors watch struggling small-cap index

* Deere shares fall after results, Macy's up

* Indexes down: Dow 0.2 pct, S&P 0.1 pct, Nasdaq 0.04 pct (Updates to open)

By Ryan Vlastelica

NEW YORK, May 14 (Reuters) - U.S. stocks edged lower on Wednesday as investors found few reasons to keep pushing shares higher, with the Dow and S&P 500 both modestly coming off their record closing highs.

Traders are looking for fresh catalysts to keep the market's momentum going amid mixed readings on the economy from data and corporate earnings, as well as the ongoing threat that the tension between Russia and Ukraine could escalate into further violence.

The S&P rose for a third straight day on Tuesday, climbing above 1,900 for the first time ever though the gains stalled going into the close.

"I don't think there's a concern about where stocks are, but investors should pay attention to what's happening in various sectors since there are some that look expensive, like small-cap growth," said Oliver Pursche, president of Gary Goldberg Financial Services in Suffern, New York.

"Economic growth is still there, but a 5 percent correction is always possible."   Continued...