US STOCKS-Wall St slips as strong data raises chances of rate hike

martes 17 de mayo de 2016 11:30 GYT

* April consumer prices record biggest gain in 3 years

* Home Depot falls; biggest drag on Dow

* LendingClub touches record low after DOJ probe

* Indexes down: Dow 0.31 pct, S&P 0.28 pct, Nasdaq 0.31 pct (Adds details, changes comment, updates prices)

By Yashaswini Swamynathan and Tanya Agrawal

May 17 (Reuters) - U.S. stocks slipped on Tuesday as upbeat consumer price data pointed to a steady build-up in inflation, boosting chances of an interest rate hike later 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.

"This morning the economic news was generally favorable suggesting that ... the U.S. economy has improved to levels warranting something other that crises-level rates," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management in Minneapolis.

"However, equities are generally expected to trend sideways for about a month or so since June will be a pivotal month with a bias towards caution."   Continuación...