Tuesday, May 12, 2009
Wall Street is rebounding moderately in early trading as investors look for the next catalyst to extend a two-month rally.
With little economic data and few earnings reports due, investors likely will shift their attention to the government's report on retail sales later in the week, and retailers' first-quarter earnings figures.
Shares of Ford Motor Co. are lower after the automaker announced plans to raise cash through a common stock offering.
In the early going, the Dow Jones industrials are up 23 at 8,442. The S&P 500 index is up about 2 at 911, and the Nasdaq composite index is up 2 at 1,733.
On Monday, the Dow fell 155 points on concerns about the banking industry.