US STOCKS-Energy shares, Apple weigh on Wall Street

viernes 15 de abril de 2016 14:39 GYT

* Crude down about 2 pct ahead of producer meeting

* Apple off after report on iPhone production cuts

* Financials set to snap 5-day winning streak

* Indexes down: Dow 0.29 pct, S&P 0.27 pct, Nasdaq 0.36 pct (Updates to late afternoon)

By Lewis Krauskopf

April 15 (Reuters) - Wall Street slipped on Friday as oil price declines weighed on energy shares and Apple dragged on the market, but major indexes were still poised to post weekly gains.

Energy was the worst performing sector, falling 1.1 percent in afternoon trade. Oil prices fell about 2 percent as traders and analysts anticipate a weekend meeting of major oil exporters will do little to clear global oversupply quickly.

Apple shares dropped 1.8 percent, the biggest drag on the S&P 500 and Nasdaq. The Nikkei business daily reported that the company will continue its reduced production of iPhones in light of sluggish sales.

Citigroup shares edged down 0.6 percent after the company reported a sharp drop in quarterly profit, capping a big week of bank earnings. Financial shares, the worst performing sector this year, fell 0.4 percent and were set to snap a five-session winning streak.   Continuación...