Wall Street turns modestly lower

US stocks declined modestly after a report on retail sales and comments from Federal Reserve Chairman Bernanke gave investors little incentive to extend the previous session's big advance, still concerned about high energy and food prices.

The Dow Jones Industrial Average fell 28.33 points to 12,847.98, with 14 of its 30 components posting early losses.

Blue chip declines were led by Hewlett-Packard, recently down 5.9% after the company said it would acquire Electronic Data Systems for $12.6 billion to better compete with IBM.

Off the Dow, shares of EDS gained 1.6%.

The S&P500 lost 1.14 points to 1,402.44, with utilities and energy fronting S&P sector declines, both off 0.7%.

Early action on the New York Mercantile Exchange had crude-oil futures climbing after the previous day's fall, with the contract for June delivery gaining 5 cents to $124.28 a barrel.

The technology-laden Nasdaq Composite shed 0.11 points to 2,488.38.

Volume on the New York Stock Exchange neared 728 million, with declining stocks edged out those advancing by a 4-to-3 ratio. On the Nasdaq, 311 million shares traded hands, and declining issues outran those advancing 7 to 5.

The Commerce Department said retail sales excluding motor vehicles climbed 0.5% in April, better than forecasts calling for a 0.2% gain.

Other early economic data included a Labor Department report that found import prices climbed 1.8% in April, largely in line with forecasts.

In a separate report, the Commerce Department reported sales at U.S. businesses jumped 1% in March, the smallest gain in a year. .........

End-of-day Market Roundup