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* Core U.S. retail sales rise 0.5 percent in April
* Yum Brands falls as monthly Chinese sales drop
* Indexes: Dow down 0.2 pct, S&P flat, Nasdaq up 0.1 pct
By Caroline Valetkevitch
NEW YORK, May 13 (Reuters) - U.S. stocks were little changedon Monday as investors stepped back following last week's newhighs, but stronger-than-expected retail sales data limiteddeclined.
The S&P 500 has jumped more than 14 percent so far thisyear, a rally that has repeatedly taken it to record intradayand closing highs without sustained declines. While thelong-term trend is still viewed as positive, many analysts saidthe momentum could wane in the absence of positive catalysts.
Retail sales rose 0.1 percent in April, better than the 0.3percent drop that had been expected, and returning to growthfollowing a decline in March. Excluding autos,gasoline and building materials, core sales rose 0.5 percent.Retail sales account for about 30 percent of U.S. consumerspending.
There is a debate playing out in the market over whetherpositive economic data can help the market rise further, orwhether it will spell the end of the Federal Reserve's monetarystimulus, which could derail the rally, said Joseph Tanious,global market strategist at J.P. Morgan Funds.
"You're seeing a little bit of back and forth, you're notseeing a great deal of conviction. You add on top of that thefact that we've had this rally year-to-date and investors are abit hesitant to continue putting more and more money into themarket because everyone's waiting for that pullback, if and whenit will ever come."
Among the day's decliners, Yum Brands Inc fell2.6 percent to $68.54. After the market closed on Friday, thefast food chain operator posted a steep decline in Chinese Aprilsales.
The Dow Jones industrial average was down 29.99points, or 0.20 percent, at 15,088.50. The Standard & Poor's 500Index was unchanged at 1,633.70. The Nasdaq CompositeIndex was up 2.27 points, or 0.07 percent, at 3,438.86.
Among the day's biggest gainers, Netflix Inc sharesjumped 5 percent to $228.49.
The S&P 500 managed its third straight weekly gainlast week, reaching a record high on Friday.
Other data showed business inventories were unchanged inMarch for a second straight month versus expectations of 0.3percent rise, suggesting restocking could help second-quartereconomic growth.
Earnings have been mostly better than expected. With 90percent of the S&P 500 having reported, 67.2 percent ofcompanies have topped earnings expectations, according toThomson Reuters data, an amount that is even with the averageover the past four quarters. Only 46.9 percent have beatenrevenue expectations, under the 52 percent average over the pastfour quarters.
