US STOCKS-Wall Street down for 2nd straight day; energy weak

martes 24 de marzo de 2015 16:23 GYT

* Google up as CFO to move from Morgan Stanley

* Whiting Petroleum shares tumble after share, note offering

* Indexes off: Dow 0.58 pct, S&P 0.61 pct, Nasdaq 0.32 pct (Updates to market close)

By Chuck Mikolajczak

NEW YORK, March 24 (Reuters) - U.S. stocks fell for a second straight session on Tuesday, with equities maintaining a tight range that corresponded with currency fluctuations as traders focused on the dollar's strength and its possible effect on corporate earnings.

Data from home sales to inflation and manufacturing indicated the U.S. economy remains strong, but failed to alter expectations of a faster or steeper monetary policy tightening path at the Federal Reserve.

Traders have honed in on how the Fed will react to economic data, as a June interest rate increase remains a possibility. Stocks have been inversely correlated to the U.S. dollar and several multinational companies have given earnings forecasts that cited a negative impact from a strong greenback.

"I don't think there is a tremendous amount of trepidation about earnings season. We will clearly see the impact of lower energy prices as well as the stronger dollar," said David Lefkowitz, Senior Equity Strategist at UBS in New York.

"Those two factors are fairly well-known, so I don't expect it is going to be much in the way of a surprise for most companies when they do report earnings, but clearly those temporary factors are going to weigh on the growth for the first quarter."   Continuación...