US STOCKS-Wall St drifts lower as financial, tech stocks drag

lunes 7 de marzo de 2016 11:00 GYT

* Micron Technology down after research downgrade

* Crude oil up more 1 pct

* Indexes down: Dow 0.19 pct, S&P 0.35 pct, Nasdaq 0.38 pct (Updates to open)

By Abhiram Nandakumar

March 7 (Reuters) - Wall Street started the week on a negative note on Monday, dragged down by financial and technology stocks, after last week's rally.

An upbeat jobs report on Friday helped push the S&P 500 and the Dow Jones industrial average to their first four-day winning streak in about five months.

The data suggested the economy was recovering. However, the report was not strong enough for the Federal Reserve to consider an immediate increase in interest rates.

The Dow closed above 17,000 on Friday for the first time since January, while the S&P was just shy of 2,000, levels that traders consider psychologically important.

"The factors that have been driving the market have been some bargain hunting, some short covering and speculating off the belief that we have seen the worst of things," said Andre Bakhos, managing director at Janlyn Capital in Bernardsville, New Jersey.   Continuación...