Wall street lower in early trading as oil rebounds
2008-07-09 13:45:02 GMT 2008-07-09 21:45:02 (Beijing Time) SINA.com
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NEW YORK - Stocks are modestly lower in the first minutes of trading, with investors heartened by Alcoa Inc.'s earnings but nervous about rising oil prices.
Alcoa opened the second-quarter earnings season late Tuesday by reporting a smaller-than-expected decline in profit. But after Tuesday's stock rally, which came on this week's $9 drop in crude prices, investors are cautiously watching oil trading again. And oil is up 96 cents at $137 a barrel on the New York Mercantile Exchange.
The Dow Jones industrial average is down about 3 points at the 11,381 level.
(Agencies)
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