By Leah Schnurr
NEW YORK (Reuters) - Wall Street was little changed on Wednesday as weak economic data and profit-taking kept buyers on the sidelines after a recent run-up.
Energy shares were the biggest drag as oil prices fell, while semiconductor stocks were hit after a brokerage downgrade of Micron Technology Inc
Chevron Corp
Markets were pressured after a report showed industrial output rose at a slower rate in August and a measure of New York state business conditions slipped to the lowest level in more than a year.
Even so, the S&P appeared to find support at its 200-day moving average, briefly falling through the 1,115 level before bouncing back up. Investors were wary about the chances of additional upside after gains of more than 6 percent for the index since the start of the month.
"A lot of people are aware we're at the upper end of the range that we've been stuck in for a while, so you have a combination of having a nice recent run-up and a little bit of weak economic data," said Eric Kuby, chief investment officer at North Star Investment Management Corp in Chicago.
"What you're seeing is some traders saying we're going to take some profits here ... but what you're seeing is a pretty muted reaction."
The Dow Jones industrial average <.DJI> edged up 17.45 points, or 0.17 percent, at 10,543.94. The Standard & Poor's 500 Index <.SPX> dipped 0.66 points, or 0.06 percent, to 1,120.44. The Nasdaq Composite Index <.IXIC> was off 0.47 points, or 0.02 percent, to 2,289.30.
Semiconductor shares <.SOX> slipped 1.1 percent after Goldman Sachs lowered its rating on Micron to "neutral" from "buy" and cut its price target to $7.85 from $12.
(Editing by Jeffrey Benkoe)
