NEW YORK, Sept. 9 (Xinhua) -- Wall Street opened moderately lower Tuesday, as investors awaited readings of pending home sales.
The U.S. National Association of Realtors is expected to report pending home sales due shortly after the opening bell. Investors desired for insights into the troubled housing market and figured out whether it is bottoming.
Homebuilders and financials are among best performers Monday, after the U.S. government planned to bail out mortgage giants Fannie Mae and Freddie Mac. And investors are trying to find out what's the next.
Airline stocks rally, as oil dropped to a five-month low. Light, sweet crude fell 2.06 U.S. dollars to 104.28 dollars per barrel on the New York Mercantile Exchange, as a weakening Hurricane Ike might not affect the Gulf of Mexico and the market awaited a decision on production from OPEC.
The Dow Jones fell 41.85 to 11,468.89. Broader indexes also traded lower. The Standard & Poor's 500 index slipped 8.57 to 1,259.22; and the Nasdaq fell 4.60 to 2,265.16.
