US STOCKS-Wall St lower as material stocks weigh

jueves 26 de mayo de 2016 13:05 GYT
 

* U.S. durable goods orders surge, business spending weak

* Oil prices test $50 a barrel

* Abercrombie slumps after sales fall for 13th straight quarter

* Indexes down: Dow 0.18 pct, S&P 0.06 pct, Nasdaq 0.01 pct (Updates to early afternoon)

By Ankur Banerjee

May 26 (Reuters) - Wall Street was slightly lower on Thursday as material stocks fell and after oil struggled to stay above the psychologically important $50-per-barrel mark.

Oil has rallied in recent weeks as wildfires in Canada and unrest in Nigeria and Libya brought a faster-than-expected recovery to an oversupplied market.

"The global surplus still exists and there is still a possibility that oil prices could retrace further," said Dominick Chirichella, senior partner at the Energy Management Institute in New York.

Data on Thursday showed that while orders for U.S. durable goods surged in April, business spending plans continued to show weakness, suggesting the manufacturing rout was far from over.   Continuación...