US STOCKS-Wall St slips as solid data raises prospect of rate hike

martes 17 de mayo de 2016 09:52 GYT
 

* April consumer prices record biggest gain in 3 years

* Home Depot falls; biggest drag on Dow, S&P

* LendingClub opens at record low after DOJ probe

* Indexes down: Dow 0.41 pct, S&P 0.34 pct, Nasdaq 0.31 pct (Updates to open)

By Yashaswini Swamynathan and Tanya Agrawal

May 17 (Reuters) - Wall Street opened lower on Tuesday as data showed U.S. consumer prices recorded their biggest increase in more than three years in April, raising the chances of an interest rate hike this year.

The Labor Department said the Consumer Price Index increased 0.4 percent last month, the largest gain since February 2013, after rising 0.1 percent in March. That took the year-on-year increase in the CPI to 1.1 percent from 0.9 percent in March.

"We have the CPI which came in more than expected and that's going to put us again on Fed watch," said Peter Cardillo, chief market economist at First Standard Financial in New York.

"We also had the housing starts come in stronger than expected, so that's another indication that the economy is picking up steam."   Continuación...