US STOCKS-Wall St slips as energy stocks drag; Fed meet awaited

lunes 14 de marzo de 2016 09:50 GYT

* Starwood rises after getting unsolicited buyout proposal

* Crude oil prices slip about 3 pct

* Indexes down: Dow 0.18 pct, S&P 0.27 pct, Nasdaq 0.19 pct (Updates to open)

By Abhiram Nandakumar

March 14 (Reuters) - Wall Street was slightly lower on Monday as a fall in oil prices weighed on energy stocks and investors paused ahead of the release of a slew of economic data and the U.S. Federal Reserve's monetary policy meeting.

Crude prices, which have dictated the direction of the stock market this year, fell about 3 percent after Iran quashed hopes of a quick deal by major producers to freeze output.

Steadying oil prices and data pointing to strengthening U.S. economy have helped stocks recover from a steep selloff at the start of the year. The S&P 500 is now down only 1 percent in 2016, after falling as much as 10.5 percent.

"You have a little pullback this morning and I don't see it as anything more than that, unless something material, i.e. the Fed goes back on their word, come Wednesday," said Andre Bakhos, managing director at Janlyn Capital in Bernardsville, New Jersey.

"Right now, it looks to be like a healthy pullback and a little profit-taking off the strength on Friday," Bakhos said.   Continuación...