US STOCKS-Wall St gives up record high following weak results, Draghi

(For a live blog on the U.S. stock market, click LIVE/ or
type LIVE/ in a news window.)
* ECB disappoints investors wanting more dovish stance
* Ford falls after quarterly profit miss
* Amazon.com down after the bell following report
* Indexes: Dow -0.47%, S&P 500 -0.53%, Nasdaq -1.00%

(Updates to close)
By Noel Randewich
July 25 (Reuters) - Wall Street fell from record highs on
Thursday following a flurry of downbeat quarterly results from
Ford Motor and other companies and after European Central Bank
chief Mario Draghi's comments disappointed investors hoping for
a more dovish stance on monetary policy.
The ECB signaled its intention to explore monetary easing
but did not cut interest rates, and President Mario Draghi
sounded more upbeat on the economy than investors expected.
The Federal Reserve is widely expected to cut interest rates
next week to bolster the U.S. economy, even as the U.S.
unemployment rate sits at its lowest in 50 years.
"The ECB's rosier outlook may be giving the market a bit of
a chill," said Chuck Carlson, chief executive of Horizon
Investment Services in Hammond, Indiana.
"The market continues to hope for dovish central banks and
the actions of one central bank lead the market to wonder what
that means for the Federal Reserve."
Ford Motor Co F.N tumbled 7.45% after the automaker
reported a lower-than-expected profit and gave a disappointing
full-year earnings forecast.
The S&P 500 information technology index .SPLRCT fell
0.8%, with the Philadelphia Semiconductor Index .SOX falling
1.7% from record highs.
Xilinx Inc XLNX.O tumbled 3.4% after the chipmaker gave a
weak quarterly forecast, hit by the impact of U.S. restrictions
on selling to Huawei Technologies Co Ltd HWT.UL . Facebook Inc FB.O dropped 1.9% after the social media
giant said new rules and product changes aimed at protecting
user privacy would slow its revenue growth into next year.

Align Technology ALGN.O plunged 27% and was the biggest
decliner on the S&P 500 after the orthodontic device maker's
current-quarter forecast came in below estimates.
Two weeks into the second-quarter earnings season, about 75%
of the 185 S&P 500 companies that have reported so far have
topped profit estimates, according to Refinitiv data.
Broad expectations that the Fed would cut rates to counter
the impact of a protracted trade war have helped Wall Street's
main indexes scale record levels this month.
The Nasdaq Composite .IXIC tumbled 1% to 8,238.54.
The Dow Jones Industrial Average .DJI dipped 0.47% to end
at 27,141.05 points, while the S&P 500 .SPX lost 0.53% to
3,003.7.
The S&P 500 and Nasdaq closed at record highs on Wednesday.
In extended trade, Amazon.com AMZN.O fell 2% after its
quarterly operating income forecast missed analysts'
expectations.
Declining issues outnumbered advancing ones on the NYSE by a
2.61-to-1 ratio; on Nasdaq, a 2.63-to-1 ratio favored decliners.
The S&P 500 posted 29 new 52-week highs and three new lows;
the Nasdaq Composite recorded 83 new highs and 93 new lows.
Volume on U.S. exchanges was 6.6 billion shares, compared
with the 6.3 billion-share average for the full session over the
last 20 trading days.