US STOCKS-Wall St set to pull back day after highest close of yr

jueves 17 de marzo de 2016 08:59 GYT
 

* Caterpillar down after forecast cut

* Mondelez down after Ackman sells some stake

* Futures down: Dow 40 pts, S&P 4.5 pts, Nasdaq 15.5 pts (Adds details, comments, updates prices)

By Abhiram Nandakumar

March 17 (Reuters) - Wall Street was set for a lower open on Thursday, a day after the Federal Reserve's lowered expectations of two interest rate hikes in 2016 pushed the S&P 500 to its highest close this year.

The Fed, which left rates unchanged, pointed to moderate U.S. economic growth and strong job gains but cautioned about risks from an uncertain global economy.

While markets across assets cheered the move, the central bank's dovish tone raised some concern about the prospects of the weakness in the global economy impacting the U.S. economy.

"There's this little bit of rethinking and so, we're looking at a softer opening as some questions arise to the prospects of future growth impacting earnings," said Peter Cardillo, chief market economist at First Standard Financial in New York.

Cardillo said rising commodity prices and the expiration of futures options contracts on Friday should provide some support to the market.   Continuación...