REFILE-US STOCKS-Wall St dips on fears over rising COVID-19 cases, tech weighs

(Fixes dropped word in headline)
* Twitter falls as accounts of top voices hacked on its
platform
* Bank of America slips as profit halves in Q2
* American Airlines says air travel demand slowing again
* Indexes: Dow -0.6%, S&P 500 -0.4%, Nasdaq -0.7%

By Noel Randewich
July 16 (Reuters) - The S&P 500 dipped from a five-week high
on Thursday, pulled lower by Microsoft Corp MSFT.O and Apple
Inc AAPL.O , as concerns about the economic toll from rising
coronavirus cases were heightened by data showing elevated
levels of unemployment claims.
U.S. retail sales increased more than expected in June, but
a resurgence in new COVID-19 cases is undercutting the budding
recovery, keeping 32 million Americans on unemployment benefits.
A jump in domestic case loads has forced California and
other states to shut down again, sparking fears of more business
damage and slowing the pace of a Wall Street rally. The S&P 500
is about 5% below its February record high.
"The economic data shows there is still a challenge going
forward," said Willie Delwiche, an investment strategist at
Baird in Milwaukee. "Congress better get its act together and
pass another fiscal stimulus."
The S&P 500 has exceeded the Nasdaq by over 2 percentage
points over the past week, its greatest five-day outperformance
over the Nasdaq since late March, reflecting a shift away from
Amazon.com AMZN.O , Microsoft and other major technology
companies that have led Wall Street's gains in recent months.
Apple lost 1.1% and Microsoft fell 1.9%, each weighing more
than any other company on the S&P 500.
Most S&P 500 sector indexes fell, with real estate .SPLRCR
down 1.3% and technology .SPLRCT down 1.2%, more than any
other.
"This is an early indication of good signs that money is now
flowing away from completely overbought Nasdaq into those names
that will bode well when the economy starts finding more of a
solid footing," said Andrew Smith, chief investment strategist
at Dallas, Texas-based Delos Capital Advisors.
Twitter Inc TWTR.N fell 1.4% after hackers accessed its
internal systems to hijack some of the platform's top voices,
including U.S. presidential candidate Joe Biden, reality TV star
Kim Kardashian West, former U.S. President Barack Obama and
billionaire Elon Musk and used them to solicit digital currency.
At 2:28 p.m. ET (1828 GMT), the Dow Jones Industrial Average
.DJI was down 0.62% at 26,702.34 points, while the S&P 500
.SPX lost 0.44% to 3,212.51.
The Nasdaq Composite .IXIC dropped 0.66% to 10,480.66.
Rounding up earnings reports of big banks, Bank of America
Corp BAC.N fell 3% after its second-quarter profit more than
halved, while Morgan Stanley MS.N rose 2.2% after posting a
record quarterly profit. American Airlines AAL.O dropped 7.2% as it sent 25,000
notices of potential furloughs to frontline workers and warned
that demand for air travel is slowing again.
Tesla Inc TSLA.O slipped 1.8% as its vehicle registrations
nearly halved in the U.S. state of California during the second
quarter, according to data from a marketing research firm.
Declining issues outnumbered advancing ones on the NYSE by a
1.42-to-1 ratio; on Nasdaq, a 1.62-to-1 ratio favored decliners.
The S&P 500 posted 29 new 52-week highs and no new lows; the
Nasdaq Composite recorded 72 new highs and 10 new lows.