Wall Street falls as oil, tech losses outweigh retail cheer



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* Retail sales unexpectedly rise in August

* Weekly jobless claims slightly above expectations

* Tesla falls as Ark dumps shares

* Indexes down: Dow 0.38%, S&P 0.52%, Nasdaq 0.60% (Updates to market open)

By Ambar Warrick

Sept 16 (Reuters) - Wall Street indexes fell on Thursday as losses in heavyweight technology and oil stocks offset cheer over strong retail sales indicating economic resilience.

The Dow Jones .DJI fell the least among its peers, as economically sensitive sectors such as financials .SPSY and transport stocks .DJT were boosted by data showing retail sales unexpectedly rose in August.

Consumer-exposed stocks such as Home Depot HD.N and Nike NKE.N rose.

But losses in technology stocks weighed on all three major indexes, while energy stocks .SPNY tumbled 1.1% after a recent rally, with oil prices retreating.

Meanwhile, the labor market remained under pressure, with data showing initial jobless claims were slightly more than expected last week.

Stocks have struggled to hold on to record highs hit earlier this month due to seasonally weaker trends in September, as well as concerns that the economic recovery could lose steam towards the end of the year.

At 10:03 a.m. ET, the Dow Jones Industrial Average .DJI fell 131.39 points, or 0.38% , to 34,683.00, the S&P 500 .SPX lost 23.10 points, or 0.52 %, to 4,457.60 and the Nasdaq Composite .IXIC lost 91.39 points, or 0.60 %, to 15,070.13.

All three indexes had marked strong gains on Wednesday, with cyclical stocks benefiting the most from a rally in oil prices and data suggesting that factory activity growth remained steady in the United States.

Data on Wednesday had also shown a dip in import prices, which coupled with a recent reading that showed consumer prices were slowing, implied that inflation had likely peaked and would fall to more manageable levels eventually.

"Around the mid to end of August, we started to see a market that started to pull back," said Robert Pavlik, chief investment strategist and senior portfolio manager at SlateStone Wealth LLC in New York.

"Concerns about tapering, inflation, concerns about China were all coming together ... Yesterday's bounce with the big run up in oil prices led people to sort of step in and buy the dip."

U.S.-listed Chinese stocks extended losses, with Beijing's regulatory overhaul of gambling in Macau coming as the latest source of consternation for a sector already hurt by crackdowns on technology and education services.

U.S.-based casino operators Las Vegas Sands Corp LVS.N , Wynn Resorts Ltd WYNN.O and MGM Resorts International MGM.N fell between 0.5% and 4%.

A batch of weak Chinese economic data, coupled with concerns over a debt crisis in the country's No. 2 property developer, have dented appetite for Chinese-exposed stocks in recent sessions.

Among other movers, videogame publisher EA EA.O rose 0.5%, as it maintained its guidance despite delaying the launch of its widely anticipated "Battlefield 2042" title by a month.

Electric carmaker Tesla Inc TSLA.O fell 0.9% after funds run by Cathie Wood's ARK Invest sold about $128 million worth of the firm's shares in the past two days.

Declining issues outnumbered advancers by a 1.9-to-1 ratio on the NYSE and by about a 1.8-to-1 ratio on the Nasdaq.

The S&P 500 posted six new 52-week highs and one new low, while the Nasdaq recorded 46 new highs and 61 new lows.
Reporting by Ambar Warrick in Bengaluru; Editing by Arun Koyyur and Maju Samuel

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