US STOCKS-Wall St lower as energy shares drag

lunes 18 de abril de 2016 09:51 GYT

* Crude down about 3 pct after producers' talks fail

* Hasbro jumps after better-than-expected results

* Indexes down: Dow 0.21 pct, S&P 0.28 pct, Nasdaq 0.37 pct (Updates to open)

By Abhiram Nandakumar

April 18 (Reuters) - U.S. stocks were lower on Monday as crude prices slipped after a much anticipated meeting of oil producers failed to result in a deal to freeze production.

Crude was down about 3 percent after the failed talks in Doha renewed fears of an escalating battle for market share among the major producing countries and add to the stubborn global surplus.

"This is definitely negative news for the energy sector, but it seems the index can still hang on there," said Zhiwei Ren, managing director and portfolio manager at Penn Mutual Asset Management.

Ren said the losses in oil were moderate despite the collapse of the talks because bullish positions had been reduced heading into the weekend.

A rebound in oil and signs that the U.S. economy was recovering had helped stocks rally from a steep selloff at the start of the year. The S&P 500 is now up about 1 percent in 2016, after falling as much as 10.5 percent earlier in the year.   Continuación...