* Fed Vice Chairman Fischer likely to speak on rates
* Oil prices drop weighs on energy stocks
* Bank of America reverses course to trade lower
* Indexes down: Dow 0.1 pct, S&P 0.12 pct, Nasdaq 0.1 pct
(Adds details, comments, updates prices)
By Yashaswini Swamynathan
Oct 17 Wall Street inched lower in a choppy
session on Monday as an advance in technology and financial
stocks offset the effects of lower oil prices and a dip in
Investors are also awaiting Federal Reserve Vice Chairman
Stanley Fischer's speech at 12:15 p.m. ET (1615 GMT), when he is
expected to offer his thoughts on raising interest rates.
With third-quarter earnings reports in full flow this week,
investors will be hoping corporate America's profits fare better
in the second half of the year than they did in the first.
Earnings of S&P 500 companies are expected to have slipped
0.4 percent in the quarter, according to Thomson Reuters data,
but better-than-expected reports could shore up profits for the
The markets have been struggling to maintain momentum in the
past few weeks amid changing dynamics of the U.S. presidential
elections and varying signals on interest rate hikes.
The benchmark S&P 500 index has alternated between losses
and gains for the past seven trading days.
"Other than trading off on some earnings number, I think the
markets are going to be quiet today because there is not a lot
of market-driving news out there," said Paul Nolte, portfolio
manager at Kingsview Asset Management.
At 10:59 a.m. ET (1459 GMT), the Dow Jones Industrial
Average was down 18.42 points, or 0.1 percent, at
The S&P 500 was down 2.53 points, or 0.12 percent, at
2,130.45 and the Nasdaq Composite was down 4.96 points,
or 0.1 percent, at 5,209.21.
Six of the 11 major S&P 500 indexes were higher, with the
newly minted real estate index rising the most, by
The energy sector's 0.54 percent drop was the
steepest. Oil fell 1.3 percent as a rising U.S. rig count left
investors worried about the prolonged glut.
Bank of America reversed course to trade down 0.15
percent, despite its profit rising for the first time in three
quarters and also topping estimates.
Hasbro was up 7.3 percent after the toymaker
reported better-than-expected quarterly revenue and profit.
Shares of larger rival Mattel rose 1.3 percent.
Allergan fell 1.7 percent to $223.69 after FDA staff
said the drugmaker's urinary treatment had not been adequately
studied in clinical trials.
Netflix fell 2.5 percent as analysts anticipate
weakness in subscriber growth when the video streaming website
reports third-quarter results after markets close.
IBM, also due to report quarterly results after the
close, was up 0.5 percent.
Declining issues outnumbered advancing ones on the NYSE by
1,494 to 1,303. On the Nasdaq, 1,488 issues fell and 1,057
The S&P 500 index showed no new 52-week highs and seven new
lows, while the Nasdaq recorded 13 new highs and 59 new lows.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by