US STOCKS-Wall Street mixed as Apple and Tesla retreat

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* Materials, energy, financials sectors outperform
* Indexes: Dow +0.10%, S&P 500 -0.06%, Nasdaq -0.67%

(Adds detail on afternoon trading)
By Noel Randewich
March 2 (Reuters) - Wall Street was mixed on Tuesday, with
Apple and Tesla losing ground, while materials and energy
companies climbed as investors looked toward the U.S. Congress
approving another stimulus package.
Most S&P 500 sectors traded higher, while technology shares
dipped in an ongoing rotation by investors out of stocks that
outperformed due to the coronavirus pandemic and into others
viewed as likely to do well as the economy recovers.
"We have more optimism about reopening parts of the economy.
We are seeing people rotate out of tech stocks and into the
reopening stocks, like industrials and financials," said Tom
Hainlin, global investment strategist at U.S. Bank Wealth
Management.
The S&P 500 on Monday logged its best day since June as
markets cheered approval of a third COVID-19 vaccine in the
United States and the U.S. House of Representatives' green light
for a $1.9 trillion coronavirus relief package.
The U.S. Senate will start debating President Joe Biden's
relief bill this week when Democrats aim to pass the legislation
through a maneuver known as "reconciliation," which would allow
the bill to pass with a simple majority. Apple AAPL.O dipped 1.2% and Tesla TSLA.O declined 2.3%,
with the two companies contributing the most to the S&P 500's
loss for the day.
The S&P 500 technology sector index .SPLRCT dropped about
0.7%, extending a pullback from late last month after a selloff
in the U.S. bond market sparked fears over highly valued stocks.
Yields on the benchmark 10-year Treasury bonds US10YT=RR
have stabilized after hitting a one-year high last week.
The S&P 500 materials .SPLRCM rose over 1%, while energy
.SPNY added 0.3%.
In afternoon trading, the Dow Jones Industrial Average
.DJI was up 0.1% at 31,567.42 points, while the S&P 500 .SPX
lost 0.06% to 3,899.53.
The Nasdaq Composite .IXIC dropped 0.67% to 13,497.89.
The Russell 2000 index .RUT of smaller companies dipped
about 1%, trimming its gain in 2021 to 14%, compared with the
S&P 500's rise of 4% in the same period.
Kohl's Corp KSS.N rose about 1.2% after it posted
holiday-quarter results beyond market expectations on a boost in
online sales and as the company reined in costs. TV ratings provider Nielsen NLSN.N jumped over 7% after it
sold its advanced video advertising business to television
streaming platform provider Roku ROKU.O . Shares of Roku
dropped 3.6%. Declining issues outnumbered advancing ones on the NYSE by a
1.03-to-1 ratio; on Nasdaq, a 1.74-to-1 ratio favored decliners.
The S&P 500 posted 29 new 52-week highs and no new lows; the
Nasdaq Composite recorded 146 new highs and 45 new lows.

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