Wall Street started the session in the red because of the prospects for raising the Fed rate, oil prices fall

May 19 (Reuters) - US stocks opened Thursday trading decline after the US Federal Reserve meeting minutes, who returned expectations of key rate in June, as well as due to the due to renewed concerns about excess supply drop in oil prices.

By 17.32 Moscow time the Dow Jones index fell by 0.81 percent to 17.385,10 points, the index S P 500 - by 0.74 percent to 2.032,38 points, the index Nasdaq Composite - by 0.85 percent to 4.698,92 points.

Minutes of the Fed's April meeting, published on Wednesday evening, surprised market participants by showing that the majority of the Central Bank consider it appropriate to increase the key rate in June, in the case of improving the economic situation in the United States.

"The potential rate hike in June, caused a small panic in the market, but we expect a rise in July, and another later in the year"- said an expert on international investment JP Morgan Private Bank Ed Hyland.

The price of oil dropped by more than 2.5 percent, falling second consecutive session due to increase probability Fed and unexpected rise in U.S. reserves [O / R].

The number of applications for benefits for unemployment in the US last week fell to 278,000, while analysts, based on preliminary data, forecast a decline to 275,000.

Wal-Mart paper rose 9.1 percent to $ 68.90 as the retailer reported a quarterly profit exceeded expectations.

Shares of Cisco Systems (NASDAQ: CSCO) strengthened by 4.3 percent to $ 27.88 as the network equipment maker reported a better-than-expected results.

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