US STOCKS-Wall St flat as banks, retailers offset oil drop

(Updates to open)

NEW YORK, July 23 (Reuters) - U.S. stocks were little changed at the open on Wednesday as a decline in shares of banks and retailers offset optimism about a pullback in oil prices.

The Dow Jones industrial average .DJI declined 32.49 points, or 0.28 percent, at 11,570.01, while the Standard & Poor's 500 Index .SPX was up 0.17 point, or 0.01 percent, at 1,277.17. The Nasdaq Composite Index .IXIC edged lower 2.28 points, or 0.10 percent, at 2,301.68. (Reporting by Walter Brandimarte; Editing by Kenneth Barry)