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| US Market |
Stocks Giving Back Ground In Early Trading Stocks have moved modestly lower in early trading on Wednesday after moving notably higher over the course of the previous session. The major averages have dipped into negative territory, although selling pressure remains subdued. The major averages are currently posting modest losses, near their lows for the young session. The Dow is down 13.75 points or 0.1 percent at 14,021.92, the Nasdaq is down 6.99 points or 0.2 percent at 3,206.60, and the S&P 500 is down 3.71 points or 0.2 percent at 1,527.23. The modest weakness on Wall Street comes as traders cash in on some of the recent strength in the markets, which lifted the major averages to new multi-year closing highs on Tuesday. Nonetheless, the major averages are holding on to the bulk of their recent gains, as traders remain reluctant to sell stocks and miss out on any further upside. Worries about the outlook for the housing market may also be weighing on stocks after a report from the Commerce Department showed a bigger than expected drop in housing starts. |
