US STOCKS-S&P 500, Dow struggle for direction after three-day rally

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* Norwegian Cruise Line falls on extending trip suspensions
* Oracle slips after revenue miss
* Nasdaq about 1% below from June 10 record high
* Dow down 0.11%, S&P off 0.08%, Nasdaq up 0.32%

(Updates to open)
By Medha Singh and Devik Jain
June 17 (Reuters) - The S&P 500 and the Dow edged lower in
choppy trading on Wednesday as a record rise in coronavirus
cases in six U.S. states dented sentiment following a three-day
rally on hopes of a swift recovery from a coronavirus-driven
downturn.
Arizona, Florida and Oklahoma were among the states that saw
a record increase in new coronavirus infections on Tuesday as
states pushed ahead with reopening. Beijing extended its
movement curbs as it fought the worst resurgence of the disease
since early February. Cruise operator Norwegian Cruise Line Holdings Ltd NCLH.N
tumbled about 9% as it extended the suspension of its voyages
through September end due to the virus outbreak. Peers Carnival Corp CCL.N and Royal Caribbean Cruises Ltd
RCL.N also dropped about 8% each.
The benchmark S&P 500 .SPX wrapped up its best three-day
percentage rise in a month on Tuesday after a report on a
massive fiscal stimulus plan, and a stunning retail sales report
for May reflected a pickup in demand as businesses reopened.
Encouraging economic data and trillions of dollars in
monetary and fiscal stimulus have propelled a rally in the Wall
Street indexes from their late-March trough.
The S&P 500 is about 3% below its record closing high hit in
February, while the tech-heavy Nasdaq .IXIC was about 1% below
its all-time closing high on June 10.
"The market got ahead of itself based on the Fed stimulus,"
Matt Peden, chief investment officer at GuideStone Capital
Management in Dallas said. "There could be further consolidation
in the marketplace, that would be healthy, and would bring
stocks closer to a more rational valuation level."
Federal Reserve Chair Jerome Powell warned on Tuesday that a
full recovery is unlikely until the public is confident that the
disease is under control, as he testified before U.S. lawmakers.
The second day of his virtual hearing will begin at 12 p.m. ET
(1400 GMT).
At 9:59 a.m. ET, the Dow Jones Industrial Average .DJI was
down 29.86 points, or 0.11%, at 26,260.12, the S&P 500 .SPX
was down 2.43 points, or 0.08%, at 3,122.31. The Nasdaq
Composite .IXIC was up 31.45 points, or 0.32%, at 9,927.32.
Energy .SPNY and utilities .SPLRCU led losses among the
major S&P sectors. Technology .SPLRCT stocks, up 0.5%,
provided the biggest boost to the benchmark index.
Oracle Corp ORCL.N fell 4% after its quarterly revenue
missed estimates as the pandemic led clients in the hospitality,
retail and transportation sectors to postpone purchases.
Declining issues outnumbered advancers for a 1.52-to-1 ratio
on the NYSE and a 1.16-to-1 ratio on the Nasdaq.
The S&P index recorded nine new 52-week highs and no new
low, while the Nasdaq recorded 73 new highs and two new lows.