US STOCKS-Wall St modestly lower as rate hike timing concerns weigh
* Wall St banks expect Fed rate hike in September
* Tesla up as Gigafactory plans gets boost
* Sears falls after sales continue to decline
* Indexes down: Dow 0.14 pct, S&P 0.13 pct, Nasdaq 0.18 pct (Updates to open)
By Tanya Agrawal
June 8 (Reuters) - U.S. stocks were modestly lower in early trading on Monday as investors weighed the prospect of the Federal Reserve raising interest rates as soon as September, after Friday's strong jobs report.
While the Fed is broadly expected to raise rates this year, the timing of the move has kept the market on tenterhooks as the central bank studies data for signs of a healthier economy.
The stronger-than-expected jobs data for May and a pickup in wages were the latest signs of improved momentum in the economy, prompting expectations of a rate hike coming sooner rather than later.
Wall Street's top banks said they expect the Fed to begin raising rates in September, followed by another increase before the end of the year, according to a Reuters poll. Continuación...