UPDATE 2-U.S. housing recovery intact despite drop in new home sales
WASHINGTON, May 23 New U.S. single-family home sales tumbled from near a 9-1/2-year high in April, but the housing recovery likely remains intact amid a tightening labor market.
* Gold prices rise to one-month high; dollar drops
* J.C. Penney down on weak same-store sales
* GE falls after Deutsche Bank downgrades to "sell"
* Indexes down: Dow 0.14 pct, S&P 0.22 pct, Nasdaq 0.05 pct (Adds details, comments, updates prices)
By Yashaswini Swamynathan
May 12 U.S. stocks edged lower on Friday and were on track to book declines for the week, weighed down by financial and industrial sectors.
Wall Street has been trading in a tight range in the past two weeks, with the S&P 500 not moving more than 0.4 percent in either direction and VIX, the fear gauge, hovering near two-decade lows.
"It is notable that no matter what happens on the news, that might have otherwise resulted in some fear factor, has not really affected the market," said Thomas Martin, senior portfolio manager at Globalt Investments.
"I think complacency is a big part of that."
A risk-off sentiment has dominated trading this week after President Donald Trump unexpectedly fired his FBI chief, the potential fallout of which could delay Trump's pro-growth policy.
Gold prices rose by the most in one month, while the dollar fell for the second straight day.
At 11:06 a.m. ET (1506 GMT), the Dow Jones Industrial Average was down 29.34 points, or 0.14 percent, at 20,890.08, the S&P 500 was down 5.22 points, or 0.22 percent, at 2,389.22 and the Nasdaq Composite was down 3.35 points, or 0.05 percent, at 6,112.61.
Eight of the 11 major S&P 500 sectors were lower, led by financials and industrials.
Retail stocks were under pressure after J.C. Penney reported lower-than-expected comparable store sales, sending its shares down nearly 10 percent.
GE was the top percentage loser on the Dow, down 2.7 percent after Deustche Bank downgraded its shares to "sell" from "hold".
Declining issues outnumbered advancers on the NYSE by 1,602 to 1,141. On the Nasdaq, 1,670 issues fell and 975 advanced.
The S&P 500 index showed 19 52-week highs and eight lows, while the Nasdaq recorded 50 highs and 46 lows. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Anil D'Silva)
* There will be caps on short term and long term performance awards for executives
WASHINGTON, May 23 The U.S. government has filed a civil lawsuit accusing Fiat Chrysler Automobiles NV of using software to bypass emission controls in diesel vehicles, the Environmental Protection Agency said on Tuesday.