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US STOCKS-Boeing, energy shares take Wall St lower

Mon Apr 13, 2009 10:13pm IST
 
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* Boeing down after profit warning

* Treasury tells GM to prepare for bankruptcy-NYT report

* Energy stocks fall as oil prices slide

* Dow down 0.9 pct, S&P off 0.5 pct, Nasdaq off 0.9 pct

* For up-to-the-minute market news click [STXNEWS/US] (Updates to midday, changes byline)

By Leah Schnurr

NEW YORK, April 13 (Reuters) - U.S. stocks fell on Monday as energy shares slid along with oil prices' sharp drop on worries that demand will fall further, while Boeing's profit warning increased caution before earnings later this week.

Chevron Corp (CVX.N: Quote, Profile, Research), which also warned that first-quarter earnings would be sharply lower, fell 2.6 percent as the price of oil fell after the International Energy Agency cut its forecast for oil demand. An S&P index of energy companies' shares lost 1.5 percent.

The price of oil has tended to oscillate along with sentiment about the economy, though there appears to be a trend toward the idea that the economy is showing signs of stabilization, said Jim Paulsen, chief investment officer of Wells Capital Management in Minneapolis.  Continued...

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