US STOCKS-Wall St to dip at open as Japan falls into recession

lunes 17 de noviembre de 2014 10:01 GYT

* Baker Hughes rallies on Halliburton deal; crude futures fall

* DreamWorks shares slide as Hasbro talks stall

* Futures off: Dow 25 pts, S&P 4 pts, Nasdaq 5 pts (Updates prices, adds NY Fed data)

By Rodrigo Campos

NEW YORK, Nov 17 (Reuters) - U.S. stocks were set to fall at the open on Monday, following four consecutive weeks of gains for major Wall Street indexes, weighed by data showing Japan slipped into recession.

Merger and acquisition news partly offset the declines as Halliburton said it would buy Baker Hughes and Allergan is close to a buyout by Actavis.

Japan's economy unexpectedly slipped into recession in the third quarter, setting the stage for Prime Minister Shinzo Abe to delay an unpopular sales tax hike and call a snap election two years before he has to go to the polls.

"Japan took the markets by surprise and it is weighing, but I don't see a major reversal, just a market consolidating," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.

"Earnings are out of the way, so it's all about prospects for the global economy."   Continuación...