US STOCKS-Wall Street retreats after solid start to March

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* Target gains on jump in holiday-quarter revenue
* Materials, energy, financials sectors outperform
* Indexes down: Dow 0.32%, S&P 0.60%, Nasdaq 1.10%

(Adds comment, details; updates prices)
By Shashank Nayar and Medha Singh
March 2 (Reuters) - Wall Street's main indexes dropped on
Tuesday after a strong start to March as bond yields pulled back
from a one-year high, while investors also looked to cues on
progress in the next round of fiscal stimulus.
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. "The market works like a pendulum and has a tendency to go
down after seeing gains like in the previous session," said
Randy Frederick, vice president at Charles Schwab in Austin.
"But concerns over lofty valuations and inflation persist
even as the overall trend seems to be positive."
The technology sector .SPLRCT dropped about 1%, 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.
At 11:36 a.m. ET, the Dow Jones Industrial Average .DJI
fell 101.65 points, or 0.32%, to 31,433.86, the S&P 500 .SPX
lost 23.50 points, or 0.60%, to 3,878.32 and the Nasdaq
Composite .IXIC lost 149.77 points, or 1.10%, to 13,439.06.
Materials .SPLRCM , consumer staples .SPLRCS and energy
.SPNY stocks outperformed among major S&P sectors.
Later in the week, investors will focus on ISM's service
sector survey as well as the monthly U.S. jobs report to
ascertain the economic health.
Kohl's Corp KSS.N rose about 1.5% as 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 gained nearly 5% 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 advancers by a 1.6-to-1 ratio
on the NYSE and by a 2.2-to-1 ratio on the Nasdaq.
The S&P 500 posted 20 new 52-week highs and no new low,
while the Nasdaq recorded 147 new highs and 111 new lows.