* Macy's climbs after earnings
* BB&T to buy Susquehanna Bancshares for $2.5 bln
* Wholesale inventory data due
* Indexes off: Dow 0.4 pct, S&P 0.29 pct, Nasdaq 0.2 pct (Updates to market open)
By Chuck Mikolajczak
NEW YORK, Nov 12 (Reuters) - U.S. stocks opened lower onWednesday, a day after the Dow and S&P 500 closed at recordhighs for a fifth straight session.
Financial companies lost ground after global regulatorsfined five major banks - including UBS AG ,HSBC Holdings Plc and Citigroup Inc - $3.4billion for failing to stop their traders from trying tomanipulate the foreign exchange market.
Citigroup shares dipped 0.5 percent to $53.56 while the S&Pfinancial index lost 0.3 percent.
"The imposition of fines by the watchdog basically weighedon European bank stocks, and as a result the market is followingsuit here," said Peter Cardillo, chief market economist atRockwell Global Capital in New York.
"It's a market that could certainly use a little bit of arest and a pullback, and that would be healthy from a technicalaspect."
Tuesday's record close for the S&P 500 marked its 40th newclosing high for the year, versus 45 in 2013. The last time theindex closed at a record high for five straight days was in May2013, with the next longest streak being an 8-day run in June1997. The Dow is on a 6-session winning streak, its longest run since June.
The S&P 500 has rallied more than 9 percent from a six-monthlow in October, buoyed by supportive economic data and solidcorporate earnings. For the year so far, the index is up morethan 10 percent.
The Dow Jones industrial average fell 69.82 points,or 0.4 percent, to 17,545.08, the S&P 500 lost 5.88points, or 0.29 percent, to 2,033.8 and the Nasdaq Composite dropped 9.10 points, or 0.2 percent, to 4,651.46.
As earnings season draws to a close, Thomson Reuters datathrough Tuesday morning showed that of 449 companies in the S&P500 reporting, 74.6 percent beat expectations, above the 63percent average beat rate since 1994 and 67 percent for the pastfour quarters. Earnings overall were expected to grow 10 percentover the year-ago period.
Macy's Inc helped lead retailers to a slight gain, up2.2 percent to $59.90 after it posted third-quarter earnings andrevised its full-year outlook. The S&P retail index edged up 0.1 percent. Cisco Systems isscheduled to report earnings after the close.
In a light day for economic data, a report on wholesaleinventory for September is due at 10 a.m. EST (1500 GMT).Expectations call for a 0.2 percent rise versus the 0.7 percentincrease in the prior month.
Susquehanna Bancshares Inc surged 33.1 percent to$13.18 after the company agreed to be acquired by BB&T Corp for about $2.5 billion. BB&T shares lost 1.7 percent to$37.69. (Reporting by Chuck Mikolajczak; Editing by W Simon, JS Benkoeand Nick Zieminski)