US STOCKS-Wall St slips from record levels, path to $2,000 stimulus checks in focus

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* Intel jumps on Third Point's push to explore deal options
* Boeing rises on first 737 MAX flight after safety ban
* Snapchat-owner Snap Inc jumps on price target raise
* Indexes down: Dow 0.2%, S&P 0.1%, Nasdaq 0.5%

(Adds comment; updates share prices)
By Devik Jain and Supriya R
Dec 29 (Reuters) - Wall Street's main indexes eased from
record highs in volatile trading on Tuesday as investors worried
the U.S. Senate may not quickly pass the additional pandemic aid
checks to help jobless Americans.
Senate Majority Leader Mitch McConnell said the chamber would
address this week President Donald Trump's call for an increase
in stimulus payments from $600 to $2,000. Final passage of the
proposal would require 60 votes and the backing of a dozen
Republicans. McConnell's comment comes a day after Democratic-led House
of Representatives approved the move to bump up direct payments.
"Most investors thought they had a clear idea of the
government stimulus package, but it's really up in the air to
how it is going to be handled," said Rick Meckler, partner,
Cherry Lane Investments, a family investment office in New
Vernon, New Jersey.
Wall Street's three main indexes opened at new highs for a
second straight session after Trump signed a $2.3 trillion
fiscal bill that restored jobless benefits and averted a federal
government shutdown.
Meanwhile, more than 2 million Americans have been
inoculated, helping investors looked past a surge in infections
that topped 19 million, with California, a major U.S. virus hot
spot, likely to extend strict stay-at-home orders. Unprecedented monetary as well as fiscal stimulus and
positive vaccine data have helped the S&P 500 .SPX bounce back
from a virus-led crash in March.
The benchmark index is set for its best fourth-quarter
performance since 2003 as investors returned to
economically-sensitive stocks from the so called 'stay-at-home'
plays on hopes of a recovery.
After a recent rally on hopes of full economic reopening,
eight of the major S&P 500 sectors fell with energy .SPSY and
industrials .SPRLCI declining the most.
At 12:42 p.m. ET, the Dow Jones Industrial Average .DJI
fell 72.84 points, or 0.24%, to 30,331.13, the S&P 500 .SPX
lost 4.58 points, or 0.12%, to 3,730.78 and the Nasdaq Composite
.IXIC lost 59.27 points, or 0.46%, to 12,840.16.
The CBOE volatility index .VIX ticked higher after hitting
a three-week low with trading volumes expected to be light in
the holiday-shortened week.
Intel Corp INTC.O jumped 5.3% after Reuters reported
activist hedge fund Third Point LLC is pushing the chipmaker to
explore strategic options, including whether it should remain an
integrated device manufacturer. Shares of planemaker Boeing Co BA.N added 1.6% as its 737
MAX plane resumed passenger flights in the United States for the
first time after a 20-month safety ban was lifted last month.

Snapchat owner Snap Inc SNAP.N gained 7% after Goldman
Sachs raised its price target on the stock on upbeat revenue
growth prospects. Declining issues outnumbered advancers by a 1.4-to-1 ratio
on the NYSE and by a 2.7-to-1 ratio on the Nasdaq.
The S&P 500 posted 21 new 52-week highs and no new low,
while the Nasdaq recorded 171 new highs and 24 new lows.