US STOCKS-Wall St flat and on track to end seven months of gains

Fri Jun 28, 2013 11:49am EDT
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* S&P on track to end June lower, but positive for quarter

* Accenture and BlackBerry both tumble after results

* Molycorp climbs after SEC investigation

* Dow down 0.1 pct, S&P 500 flat, Nasdaq up 0.2 pct

By Ryan Vlastelica

NEW YORK, June 28 (Reuters) - U.S. stocks were flat on Friday, with investors finding little reason to push shares higher after a three-day rally on the S&P 500, which was on pace to end a seven-month rally.

Trading was volatile, with shares opening lower and falling steadily before rebounding. Technology shares were among the weakest of the day, pressured by weak corporate results, but the losses were offset by strength in energy and material shares.

Cyclical groups, which includes materials and are tied to the pace of economic growth, have rallied this week on easing concerns that the Federal Reserve's stimulus program - which has been widely credited with fueling the market's gains this year - would soon end.

Last week, Fed Chairman Ben Bernanke suggested the policy could be slowed if the economy improves, resulting in a sell-off of nearly 5 percent, though that subsequently dissipated on signs that the end of stimulus efforts wasn't imminent.   Continued...