US STOCKS-Oil drags on Dow, S&P; Nasdaq boosted by Applied Materials

viernes 19 de agosto de 2016 11:21 GYT
 

* All eyes on Fed; Jackson Hole meeting next week

* Applied Materials jumps as forecast tops estimates

* Energy stocks drop as oil prices reverse gains

* Dow down 0.17 pct, S&P down 0.23 pct, Nasdaq up 0.07 pct (Adds details, changes comment, updates prices)

By Tanya Agrawal

Aug 19 (Reuters) - The Dow Jones and S&P 500 were lower on Friday morning, pulled down by energy stocks as oil prices dropped and by financial shares as investors again focus on the timing of the next rate hike.

The Nasdaq was flat as Applied Materials led technology stocks higher. The stock rose 7 percent after the chip equipment maker's current-quarter profit forecast beat analysts' expectations.

Energy stocks fell 0.84 percent as Brent crude oil dropped after hitting an eight-week high, with weak fundamentals countering a lift in sentiment over a possible output freeze.

Investors were also cagey ahead of next week's meeting of central bankers from around the world in Jackson Hole, Wyoming, where Federal Reserve Chair Janet Yellen is likely to cement expectations for a slow pace of rate increases.   Continuación...