*

Bank stocks tumble on concerns of slowdown

*

Energy stocks drop as oil sinks on demand worries

*

Harris-Trump debate scheduled for 9 p.m. EDT

*

Oracle jumps after Q1 results beat estimates

*

Indexes: Dow off 0.30%, S&P 500 up 0.35%, Nasdaq up 0.74%

(Updates prices at 2:40 p.m. EDT/1840 GMT)

By Sinéad Carew and Shubham Batra

Sept 10 (Reuters) - Wall Street's benchmark S&P 500

index rose slightly on Tuesday with concerns about slowing

economic growth stunting gains as bank stocks sank on

current-quarter weakness while energy shares tumbled.

Energy was the biggest percentage decliner among the

benchmark's 11 industry indexes, off more than 2%, as crude oil

futures fell as OPEC+ cut its demand forecast for 2024 and 2025.

Bank stocks fell broadly after Goldman Sachs ( GS ) CEO

David Solomon said late on Monday that trading revenue will

probably slip 10% this quarter. On Tuesday, JPMorgan Chase's ( JPM )

president tempered expectations about income from

interest payments.

Also, the finance chief of smaller consumer lender Ally

Financial ( ALLY ) said credit challenges have intensified in

the current quarter as borrowers struggled with high inflation,

sending its shares down 17%.

The concerns about weak fundamentals in the finance industry

overshadowed the Federal Reserve's regulatory chief unveiling a

sweeping bank capital plan after intense industry opposition.

"A lot of the action today is being driven by concern the

banks are lowering expectations for earnings for the current

quarter," said Lindsey Bell, chief strategist at 248 Ventures in

Charlotte, North Carolina.

"The news from JPMorgan ( JPM ), Goldman Sachs ( GS ) and Ally stole the

show because they're saying that fundamentally their business is

slowing down. The fundamental re-rating lower is taking

precedence over the good news on the regulatory side," she said.

Investors are also worried about the weaker energy outlook

on top of uncertainty about a Fed decision on interest rates

next week and November's U.S. presidential election.

"We're getting these signs that economic growth across the

globe is slowing and it adds angst when we already have such

uncertainty here with the election cycle," Bell said, suggesting

that both September and October could be weak months for stocks.

Wall Street's main indexes had recorded gains of more than

1% on Monday as investors looked for bargains following a week

of steep losses.

At 2:40 p.m. EDT the Dow Jones Industrial Average

fell 123.00 points, or 0.30%, to 40,706.59, the S&P 500

gained 19.05 points, or 0.35%, to 5,490.10, and the Nasdaq

Composite gained 125.06 points, or 0.74%, to 17,009.66.

The S&P 500's financial industry index was the

benchmark's second-weakest sector and its biggest index point

drag on Tuesday with a 1% drop. It biggest drags were JPMorgan

Chase ( JPM ), down 5% ,and Goldman Sachs ( GS ), down 4.5%.

On Tuesday night investors will monitor a televised debate

between Democratic presidential candidate Kamala Harris and

Republican candidate Donald Trump. The two, who have never met

in person, will square off at 9 p.m. EDT (0100 GMT).

On Wednesday, investors will closely monitor the August

consumer price index, which is expected to show a slight

moderation in the headline number to 2.6% on a year-on-year

basis and remain unchanged at 0.2% on month. On Thursday, the

producer prices report will follow the CPI data.

In individual stocks, Hewlett Packard Enterprise ( HPE )

dropped 6% after the server maker announced a $1.35 billion

mandatory convertible preferred stock offering to fund its

acquisition of Juniper Networks ( JNPR ).

Oracle jumped 10.9% after beating estimates for

quarterly results.

Declining issues outnumbered advancers by a 1.18-to-1 ratio

on the NYSE where there were 318 new highs and 156 new lows.

On the Nasdaq, 1,992 stocks rose and 2,122 fell as declining

issues outnumbered advancers by a 1.07-to-1 ratio while the S&P

500 posted 45 new 52-week highs and 13 new lows. The Nasdaq

Composite recorded 38 new highs and 144 new lows.