US STOCKS-Fed jitters and oil pull Wall St lower; Apple rallies

miércoles 14 de septiembre de 2016 16:31 GYT
 

* Apple rises for third straight day; boosts major indexes

* Ford shares drop after disappointing 2017 forecast

* Indexes: Dow -0.18 pct, S&P -0.06 pct, Nasdaq +0.36 pct (Updates to close)

By Noel Randewich

Sept 14 (Reuters) - Wall Street edged lower on Wednesday as investors stewed about future interest rate hikes and cheaper oil dragged down energy shares, although Apple surged to its highest level this year.

Speculation about the timing of the Federal Reserve's next interest rate hike has shaken major stock indexes following contrasting comments from Fed officials.

The S&P 500 remains down almost 3 percent from before a steep selloff on Friday, even though interest rate futures indicate expectations for a rate hike at the Fed's Sept. 20-21 meeting are still low.

"What you're seeing is a little preview for what will happen when the Fed does raise rates," said Chris Zaccarelli, chief investment officer at Cornerstone Financial Partners. "People are starting to make changes to their portfolios."

Apple jumped 3.6 percent and briefly touched a 2016 high, with its market capitalization topping $600 billion for the first time since April, as Wall Street bet the technology company's newest iPhone would help shore up falling sales.   Continuación...