US STOCKS-Wall St ticks up but energy weighs after crude drop

miércoles 8 de abril de 2015 11:28 GYT
 

* Fed's Dudley keeps June rate hike on the table depending on data

* Mylan jumps after JPMorgan note hints at deal

* Fed minutes due at 1800 GMT

* Indexes up: Dow 0.15 pct, S&P 0.13 pct, Nasdaq 0.5 pct (Updates prices, adds comment)

By Rodrigo Campos

NEW YORK, April 8 (Reuters) - U.S. stocks pared initial gains to trade slightly higher on Wednesday as energy stocks sold off after a large buildup in crude stockpiles sent oil futures reeling.

Brent slid 3.3 percent and U.S. crude lost more than 4 percent after data from the U.S. Energy Information Administration showed the largest weekly build in oil inventories since March 2001.

Energy stocks, which had been supported by Royal Dutch Shell's $70 billion bid for rival BG Group, fell sharply after the EIA data.

"It's a huge build so how are we looking at it - is it a slowdown in the economy? Certainly the market is feeling that," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.   Continuación...