US STOCKS-Wall St heads lower, tax plan doubts weigh

Reuters

Warning: This material has been prepared by a third party company, Reuters, which is independent of Davy. Davy has not reviewed the material and accepts no responsibility for errors or omissions, or for the information or opinions contained therein. It does not constitute investment advice.

* U.S. producer prices rise 0.4 pct in Oct * Home Depot flat, TJX down after results * Buffalo Wild Wings surges on takeover talks * Futures down: Dow 38 pts, S&P 5 pts, Nasdaq 5.25 pts (Adds comment, details on producer prices, updates stock prices) By Sruthi Shankar Nov 14 (Reuters) - Wall Street was set to open marginally lower on Tuesday as worries about Republican tax plans and the economy's ability to deal with more rises in interest rates weighed on the mood among investors. Shares in Home Depot HD.N held steady while those in off-price retailer TJX TJX.N dipped after quarterly reports that bore the impact of a violent U.S. hurricane season. urn:newsml:reuters.com:*:nL3N1NK4H3 urn:newsml:reuters.com:*:nL3N1NK5DO Buffalo Wild Wings BWLD.O surged 26 percent after a report that the restaurant chain had received a takeover bid at about $2.3 billion from private equity Roark Capital Group. urn:newsml:reuters.com:*:nL3N1NJ6HT With the quarterly earnings season winding down, the market has halted after its rally to record highs last week. Investors were waiting for any signs of compromise on U.S. tax policy after Senate Republicans unveiled a plan last week that would cut corporate taxes a year later than a rival House of Representatives' bill. "You're at the end of the earnings season, economic data is all distorted because of the hurricanes, I don't think there is going to be any clear picture until we get a firm yes or no for the tax bill," Scott Brown, chief economist at Raymond James in St. Petersburg, Florida. "We'll see a bit of back-and-forth, the market's got to breathe." At 8:32 a.m. ET (1232 GMT), Dow e-minis 1YMc1 were down 38 points, or 0.16 percent, with 27,263 contracts changing hands. S&P 500 e-minis ESc1 were down 5 points, or 0.19 percent, with 176,095 contracts traded. Nasdaq 100 e-minis NQc1 were down 5.25 points, or 0.08 percent, on volume of 29,520 contracts. A Labor Department report showed producer prices increased 0.4 percent in October, after similar gains in September. Economists polled by Reuters had a expected a 0.1 percent rise. urn:newsml:reuters.com:*:nL1N1NJ1VB In the 12 months through October, the producer price index jumped 2.8 percent, the largest rise since February 2012. St. Louis Fed President James Bullard said on Tuesday the Fed should keep its benchmark interest rate at current levels until there is an upswing in inflation. urn:newsml:reuters.com:*:nN9N1M9012 Investors are concerned that a tightening gap between short and long-term U.S. government bond yields suggests the Federal Reserve may be in danger of hiking rates too much and killing longer term inflation and growth. (Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D'Silva) ((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6749 6328; Reuters Messaging: sruthi.shankar.reuters.com@reuters.net)) Keywords: USA STOCKS/

Warning: This content may be provided by regulated and unregulated entities and is not created, reviewed or endorsed by Davy. It is provided for general information purposes only and does not constitute a recommendation or solicitation to purchase or sell any security or make any other type of investment or investment decision. Importantly, it does not constitute investment advice, as it does not contemplate the personal circumstances of any particular person or group of persons. Neither Davy nor the providers of the Third Party Content will be liable for any investment decision made based on the reliance on or use of such data, or any liability that may arise due to delays or interruptions in the delivery of the Third Party Content for any reason.