US STOCKS-Wall St to open slightly lower after choppy session

miércoles 10 de diciembre de 2014 10:22 GYT
 

* Brent crude drops below $66 a barrel

* Costco, Toll Brothers post quarterly results

* Futures off: Dow 39 pts, S&P 4.5 pts, Nasdaq 5 pts (Adds quote, updates prices)

By Chuck Mikolajczak

NEW YORK, Dec 10 (Reuters) - U.S. stocks were set for a modestly lower open on Wednesday, a day after stocks staged an intraday rally to erase a decline of nearly 1.3 percent and close out trading nearly flat.

Stocks shook off worries about global weakness and political turmoil in Greece on Tuesday to erase sharp declines early in the session as energy and technology shares rose.

Energy shares will likely be in focus again, as Brent crude dropped below $66 a barrel to trade just above a five-year low on supply concerns. Oil prices have been under pressure from the dollar's strength and OPEC's decision against an output cut, with Brent down more than 40 percent from its June high.

The S&P Energy sector is the worst performing of the 10 major S&P sectors for the year and the only group in negative territory. Falling oil prices have raised concerns about earnings for energy companies, with year-end tax selling bringing additional pressure on the group.

After climbing to its most recent record high on Friday, the S&P 500 has slipped 0.7 percent and is up 10.6 percent from its October low.   Continuación...