US STOCKS-Dow, S&P 500 slip as second quarter nears close

Fri Jun 28, 2013 3:19pm EDT
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* S&P 500 on track to end June lower, but positive for quarter

* Accenture and BlackBerry both tumble after results

* Dow down 0.5 pct, S&P 500 off 0.2 pct, Nasdaq up 0.2 pct

By Alison Griswold

NEW YORK, June 28 (Reuters) - The Dow and the S&P 500 slipped on Friday as the end of the second quarter approached, with investors finding little reason to push shares higher after a three-day rally.

With less than an hour left in the session, only the Nasdaq was in positive territory.

Stocks opened lower on weakness in technology shares, then fluctuated between steep losses and moderate gains for much of the session before flattening out. Losses in financials and tech weighed on the market, but were partially offset by strength in utilities and consumer discretionary shares.

Analysts said volatility has decreased as investors have come to terms with the fact that the Federal Reserve's stimulus program will eventually come to an end.

"It's not as volatile as it's been over the past week or two so I think the market is actually coming to grips with the idea that very aggressive easy money policy is not a normal state of affairs," said Scott Clemons, chief investment strategist of Brown Brothers Harriman in New York.   Continued...