US STOCKS-U.S. stocks set to open lower as oil slides again

miércoles 24 de febrero de 2016 09:47 GYT
 

* US crude falls more than 3 pct

* JP Morgan down as trading rev falls

* Futures down: Dow 146 pts, S&P 16.5 pts, Nasdaq 49 pts (Adds details, comment, updates prices)

By Abhiram Nandakumar

Feb 24 (Reuters) - U.S. stocks were set to open lower on Wednesday as crude prices slid after top producer Saudi Arabia ruled out production cuts to help tackle a global glut.

Stocks have closely tracked oil prices this year as investors fret about the health of the global economy. The S&P 500 is down 6 percent for the year, while the Nasdaq composite has shed more than 10 percent.

U.S. crude was down more than 3 percent, also pressured by data showing an increase in stockpiles. Shares of Chevron and Exxon were off about 1.5 percent premarket.

"There is very little good news for the market to hang its hat on," said John Brady, managing director at brokerage R.J. O'Brien & Associates in Chicago.

"Unless something happens, my sense is that we're going to continue to break down here a little bit," he said.   Continuación...