US STOCKS-Microsoft drags Wall St; Fed meet awaited

lunes 13 de junio de 2016 10:05 GYT
 

* Oil prices down more than 1 pct

* Microsoft drags all three indexes on LinkedIn takeover

* Indexes down: Dow 0.3 pct, S&P 0.28 pct, Nasdaq 0.45 pct (Updates to open)

By Yashaswini Swamynathan

June 13 (Reuters) - Wall Street opened lower for the third straight trading day, pulled down by Microsoft, ahead of the Federal Reserve's policy meeting starting Tuesday.

Microsoft was the biggest drag on all three major indexes after the software company agreed to buy LinkedIn for $26.2 billion. Microsoft stock fell 4.5 percent to $49.18 while LinkedIn jumped 47 percent to $193.13.

Nine of the 10 major S&P sectors were lower with the information technology index's 0.62 percent fall leading the decliners. Facebook was down 1.4 percent at $114.99 after CNBC said Citron Research was short on the stock.

The U.S. Federal Reserve Open Market Committee (FOMC) will meet on Tuesday and Wednesday to decide when to raise interest rates for the second time in nearly a decade.

Fed Chair Janet Yellen, who had been dropping hints of a rate hike most of last month, was more vague last week on its timing after dismal May hiring data and a possible Brexit raised concerns about the strength of the economy.   Continuación...