Stocks Open Lower After Previous Session’s Rally

NEW YORK (AP) – Wall Street is down in early trading as investors decided to cash in some of Monday’s big gains as they comb through another batch of quarterly earnings.

Some pullback on Tuesday was to be expected after the Dow Jones industrial average shot up 413 points in the previous session. But the market was also wary amid the stream of earnings reports and outlooks. DuPont Co. said it is lowering its 2008 forecast.

Still, investor anxiety appears to have lessened considerably compared to the previous two weeks when fears about tightening world credit and the health of the economy battered stocks across the globe. And analysts have warned that the market will see a stretch of back-and-forth sessions as Wall Street recovers from this month’s huge drop.

The Dow is down 106 points at the 9,158 level.

(Copyright 2008 by The Associated Press. All Rights Reserved.)