US STOCKS-Wall St lifted by banks as Fed meeting nears

lunes 19 de septiembre de 2016 14:56 GYT

* Fed's monetary policy meet starts Tuesday

* Sarepta soars after FDA approves muscle drug

* Apple drags on major indexes

* Indexes up: Dow 0.21 pct, S&P 0.22 pct, Nasdaq 0.01 pct (Updates to late afternoon)

By Lewis Krauskopf

Sept 19 (Reuters) - Wall Street edged higher on Monday, with gains in big bank stocks offsetting a drag from Apple shares, as investors braced for the outcome of the Federal Reserve meeting later this week.

The Fed is expected to leave interest rates unchanged at the two-day meeting, but investors will assess Chair Janet Yellen's speech on Wednesday to see if the central bank plans to hike as soon as December.

After trading higher during the morning, the benchmark S&P 500 pulled back and slid briefly into negative territory. The index has tallied four daily moves of at least 1 percent in the past couple of weeks after two months of calm.

"The market has been all over the place. It's been driven by the threat of higher interest rates," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa. "Most people feel the most unloved bull market in recent memory will be cut off at the knees by higher interest rates and the Fed is certainly threatening that in the near term."   Continuación...