US STOCKS-Wall St lower as investors await Bernanke speech

* Investors don't see drastic measures in Bernanke speech

* U.S. economy grew at 1 pct rate in second quarter

* Tiffany shares rally after full-year outlook lifted

* Indexes down: Dow, S&P 1 pct, Nasdaq 0.8 pct

* For up-to-the-minute market news see [STXNEWS/US]
(Updates to open)

By Ryan Vlastelica

NEW YORK, Aug 26 (Reuters) - U.S. stocks fell early Friday
as investors found few reasons to buy following a volatile week
and ahead of a keenly anticipated speech from Federal Reserve
Chairman Ben Bernanke.

The economy grew much slower than previously thought in the
second quarter, the government said, adding to the cautious
tone. For details see [ID:nN1E77P09C]

Many analysts believe Bernanke, scheduled to speak on
Friday at 10 a.m. EDT (1400 GMT), is most likely to outline
gradualist measures -- disappointing those looking for a more
dramatic move, such as a fresh round of asset purchases.
[FED/AHEAD]

The Dow Jones industrial average .DJI was down 112.62
points, or 1.01 percent, at 11,037.20. The Standard & Poor's
500 Index .SPX was down 11.77 points, or 1.02 percent, at
1,147.50. The Nasdaq Composite Index .IXIC was down 18.36
points, or 0.76 percent, at 2,401.27.

Banks, among the most volatile names in recent sessions,
were early losers. Bank of America Corp (BAC.N) fell 1.8
percent to $7.51, the top drag on the Dow, followed by JPMorgan
Chase & Co (JPM.N), off 1.3 percent to $35.28.

Technology stocks limited losses on the Nasdaq, with Micron
Technology Inc (MU.O) up 1 percent to $5.43, and Research in
Motion Ltd (RIMM.O) adding 1 percent to $28.52.

The Dow is up 3.1 percent for the week, the Nasdaq is ahead
3.3 percent, and the CBOE Volatility index .VIX is down 7.6
percent.

The S&P has gained 3.2 percent, but it remains to be seen
whether stocks can gather enough steam for an extended rally.
Analysts view 1,120 as a key support level for the index.

Wall Street also took cues from overseas. In Europe, shares
.FTEU3 fell 2 percent on nervousness ahead of Bernanke's
speech.

Tiffany and Co (TIF.N) rose 6 percent to $67 after it
raised its full-year outlook on rising sales. [ID:nN1E77L0GU]
(Editing by Jeffrey Benkoe)