US stocks fall

Wall Street retreated modestly in wobbly trading today, putting its buying spree on pause to mull over mixed economic data.

The Dow Jones industrial average briefly surpassed 13,500 for the first time, but then pulled back.

Investors refrained from making any big moves after data today showed strength in some areas of the economy, particularly employment, but weakness in others - giving little indication about whether the Federal Reserve will lean toward an interest rate cut later in the year.

Robust economic data today included the Labour Department’s report that jobless claims fell last week for the fifth straight week. But the Conference Board forecasted slower economic growth, with its April index of leading economic indicators declining more than expected.

According to preliminary calculations, the Dow fell 10.81, or 0.08%, to 13,476.72, after rising as high as 13,516.71.

Yesterday, the index reached its 23rd record close of the year. Broader indexes also declined. The Standard & Poor’s 500 index lost 1.39, or 0.09%, to 1,512.75, and the Nasdaq composite index fell 8.04, or 0.32%, to 2,539.38.