US STOCKS-Wall St bounces, led by utilities, as dollar drop eases earnings worry

lunes 16 de marzo de 2015 13:47 GYT
 

* Energy shares up despite oil price fall

* Utilities lead day's gain

* Indexes up: Dow 1 pct, S&P 1 pct, Nasdaq 0.8 pct (Updates to early afternoon)

By Caroline Valetkevitch

March 16 (Reuters) - U.S. stocks rose on Monday, with utilities leading a rebound on the S&P after three weeks of losses, as a decline in the U.S. dollar against the euro eased some worries over how a robust greenback might erode the earnings of multinationals.

The dollar fell across the board Monday on investor concerns its recent strength could prompt the Federal Reserve to be more cautious about raising interest rates this year.

The S&P utilities index, which tends to do well in a low interest rate environment, was up 2.1 percent, leading the day's gains.

The next statement from the Fed is due on Wednesday, when investors expect the central bank to give a clearer signal on the timing of its first interest rate hike in almost a decade.

"It's just a little bit of relief from last week's selloff," said Joseph Benanti, managing director, sales and trading of Rosenblatt Securities in New York.   Continuación...