Wall Street Trades Moderately Lower After Surge

By: Associated Press Email
By: Associated Press Email

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Tuesday, June 2, 2009

U.S. stocks are moderately lower in early trading as markets around the world take a breather from the massive gains logged a day earlier.

Some pullback Tuesday is to be expected after stocks surged Monday on upbeat economic readings.

Investors are looking for more positive news from the housing industry. The National Association of Realtors' index on pending home sales for April is expected at 10 a.m. Eastern time.

In early trading, the Dow Jones industrial average is down 18 at 8,703. The Standard & Poor's 500 index is down 4 at 939. The Nasdaq composite index is down 10 at 1,818.

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