US STOCKS-Fed jitters and oil pressure Wall St; Apple rallies

miércoles 14 de septiembre de 2016 14:38 GYT

* Apple rises for third straight day; boosts major indexes

* Ford shares drop after disappointing 2017 forecast

* Indexes: Dow -0.12 pct, S&P -0.04 pct, Nasdaq +0.39 pct (Updates to afternoon)

By Noel Randewich

Sept 14 (Reuters) - Wall Street edged lower on Wednesday as investors focused on future interest rate hikes and as cheaper oil dragged down energy shares, although Apple surged to its highest level this year.

Speculation about the timing of the Federal Reserve's next interest rate hike has shaken major stock indexes since last Friday following contrasting comments from Fed officials.

The S&P 500 remains down almost 3 percent from before Friday's steep selloff, even though interest rate futures indicate expectations for a rate hike at the Fed's Sept. 20-21 meeting remain low.

"What you're seeing is a little preview for what will happen when the Fed does raise rates," said Chris Zaccarelli, chief investment officer at Cornerstone Financial Partners. "People are starting to make changes to their portfolios."

Apple jumped 3.4 percent to a 2016 high, with its market capitalization topping $600 billion for the first time since April as Wall Street bet the technology company's newest iPhone would help shore up falling sales.   Continuación...