Monday, April 7, 2014

Wall St. to open lower as momentum stocks stay weak

Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York By Chuck Mikolajczak NEW YORK (Reuters) - U.S. stocks were set for a lower open on Monday, putting the S&P 500 on track for its third straight decline, as weakness in momentum names that sent the Nasdaq and benchmark S&P index to their worst drop since February in the prior session appeared poised to continue. Declines in momentum names such as Netflix Inc and TripAdvisor Inc overshadowed the relatively strong March payrolls report on Friday, leaving investors anxious about how much further they may fall. Facebook Inc lost 1.3 percent to $56 in premarket trade.








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