US STOCKS-Wall St up on cautious Fed, upbeat data

miércoles 6 de julio de 2016 16:34 GYT

* ISM services index rises, beating estimate

* Oil prices rise after two-day slump

* Indexes up: Dow 0.44 pct, S&P 0.54 pct, Nasdaq 0.75 pct (Updates to close)

By Marcus E. Howard

July 6 (Reuters) - U.S. stocks rose on Wednesday as the Federal Reserve was seen refraining from raising U.S. interest rates soon, even as economic data showed the world's largest economy regained speed in the second quarter.

The minutes for the June 14-15 meeting of the U.S. central bank, which took place before Britons voted to leave the European Union, showed widespread unease over the "Brexit" vote, as well as a severe slowdown in hiring by U.S. employers.

Fed policymakers also said rate hikes should stay on hold until they have a handle on the consequences of Brexit. Since the vote, stocks have been volatile on Wall Street, while investors have driven up safe-haven assets such as gold and yields on long-term U.S. debt have fallen to record lows.

"The money that you're seeing deployed in the U.S. in my view is a repercussion of people looking to buy the oasis of growth and safe havens in the world, and that is the U.S.," said Nate Thooft, U.S.-based co-head of global asset allocation at Manulife Asset Management in Boston.

Adding to the view of persisting lower rates, Fed Governor Daniel Tarullo said on Wednesday no rate hikes are needed until inflation is more solid.   Continuación...