Wall Street dips after early gains fade

NEW YORK (Reuters) - U.S. stocks edged lower on Tuesday as stocks erased gains in late session after the benchmark S&P 500 index found resistance at its 50-day moving average.

The Dow Jones industrial average dropped 42.70 points, or 0.29 percent, to 14,932.26. The Standard & Poor's 500 Index shed 0.98 points, or 0.06 percent, to 1,613.98. The Nasdaq Composite Index dipped 1.09 points, or 0.03 percent, to 3,433.40.

(Reporting by Chuck Mikolajczak)