US STOCKS-S&P 500 slides from five-week high as virus fears weigh

(For a live blog on the U.S. stock market, click LIVE/ or
type LIVE/ in a news window.)
* 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 down: Dow 0.23%, S&P 0.66%, Nasdaq 1.61%

(Adds quote, details; updates prices)
By Medha Singh and Devik Jain
July 16 (Reuters) - Wall Street's main indexes fell on
Thursday with the S&P 500 slipping from a five-week high as
concerns about the economic toll from rising coronavirus cases
nationwide were amplified 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 chipping at the budding
recovery, keeping 32 million Americans on unemployment benefits.
The jump in domestic case loads has forced states such as
California 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 5.8% away from its record high hit in February.
Rounding up earnings reports of big banks, Bank of America
Corp BAC.N fell 1.7% after its second-quarter profit more than
halved, while Morgan Stanley MS.N rose 3.5% after posting a
record quarterly profit. "There's going to be a little bit of a tug-and-pull based on
the data and earnings, but I don't see a big move in the market
in either direction in the next several weeks," said Carlton
Neel, chief executive officer of investment research firm
Chaikin Analytics in Philadelphia.
Many market experts also pointed out that the benchmark S&P
500 is struggling to rise above 3,230 points, its breakeven
level for the year.
At 11:02 a.m. ET, the Dow Jones Industrial Average .DJI
was down 61.49 points, or 0.23%, at 26,808.61, the S&P 500
.SPX was down 21.28 points, or 0.66%, at 3,205.28. The Nasdaq
Composite .IXIC was down 169.82 points, or 1.61%, at
10,380.68.
The tech-heavy Nasdaq underperformed the S&P 500 for the
fifth straight session, while S&P's cyclical sectors -
financials .SPSY , industrials .SPLRCI and materials
.SPLRCM - were in favor.
"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,
Delos Capital Advisors based in Dallas, Texas.
Twitter Inc TWTR.N fell 1.5% as 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.
American Airlines AAL.O dropped 5.2% 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 4.5% 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 advancers for a 1.18-to-1 ratio
on the NYSE and for a 1.63-to-1 ratio on the Nasdaq.
The S&P index recorded 27 new 52-week highs and no new low,
while the Nasdaq recorded 65 new highs and nine new lows.