US STOCKS-Wall St declines as oil tumbles further

viernes 12 de diciembre de 2014 11:17 GYT
 

* WTI crude falls below $59 a barrel

* Producer prices fall; UMich tops expectations

* Adobe up after results; to buy Fotolia

* Indexes off: Dow 0.4 pct, S&P 0.39 pct, Nasdaq 0.19 pct (Updates to opening)

By Chuck Mikolajczak

NEW YORK, Dec 12 (Reuters) - U.S. stocks dipped on Friday, putting the benchmark S&P 500 on track to snap seven weeks of gains, after oil prices slumped further.

The S&P index had broken a three-day skid on Thursday, buoyed by upbeat retail sales figures and other data that pointed to a strengthening U.S. economy, but finished well off its session highs as oil prices slipped.

Weak oil prices have added to worries about global demand and raised concerns about earnings for energy companies, with year-end tax selling putting more pressure on the group.

The S&P energy sector was down 1.6 percent for the session and has shed more than 16 percent this year and is the worst performing of the 10 major S&P sectors.   Continuación...