Wall Street little changed as IBM's gains offset Wal-Mart drop

U.S. stocks lost some steam after a three-day rally and were little changed on Thursday morning as a slump in Wal-Mart offset gains by IBM. Seven of the 10 major S&P sectors were lower, led by the 0.6 percent fall in consumer discretionary and consumer staples sectors. Wal-Mart slumped 4.7 percent to $63 after the retailer reported a decline in quarterly earnings and cut its full-year forecast.