Wall Street Slips as Energy, Consumer stocks Drag

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Wall Street ended modestly lower on Monday as energy stocks retreated along with oil prices, while Amazon and Netflix weighed on the consumer discretionary sector. Federal Reserve Vice Chairman Stanley Fischer warned that economic stability could be threatened by low interest rates and noted the central bank is "very close" to its employment and inflation targets, but said it was "not that simple" for the Fed to raise rates. 

 

The comments from Fischer, a dove who has supported a rate hike, come as other Fed officials have recently said the current state of affairs may be about as good as it gets. 

 

Conflicting statements on the timing of a rate hike from some Fed officials has been adding to uncertainty in markets, which have been grappling with changing dynamics in a tumultuous US presidential election and nervousness regarding third-quarter earnings.