NEW YORK (AP) — Stocks are lower but off their worst levels following a trade group report that the U.S. service sector contracted less than expected in June.
Stocks had opened lower Monday on jitters about how quickly the economy can recover.
The Institute for Supply Management's services index rose to 47 in June from 44 in May. Economists polled by Thomson Reuters had expected a reading of 45.5. It is the highest level in nine months.
The Dow Jones industrial average is down 31 at 8,250. The broader Standard & Poor's 500 index is down 4 at 892. The Nasdaq composite index is down 13 at 1,784.
Copyright 2009 The Associated Press.
Business
July 6, 2009
Stocks pare losses after services data
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