Stocks Modestly Higher In Early Going - Cleveland 19 News Cleveland, OH

Stocks Modestly Higher In Early Going

NEW YORK (AP) - Stock prices are modestly higher after Tuesday's big decline. The Dow Jones Industrial Average is up some 60 points in Wednesday's early going.

The Nasdaq Composite Index is ahead nine points and the Standard-and-Poor's 500 Stock Index is up seven points. Wall Street is coming off its biggest decline since 2001.

China's closely-watched stock market posted a rebound overnight. The gain of nearly four percent recovered nearly half of the previous day's decline.

Europe has been seeing further declines in its major averages, although not as severe as yesterday. The economic calendar offers some items of interest today, including scheduled testimony in the coming hour from Federal Reserve Chairman Ben Bernanke (bur-NANG'-kee).

Earlier, the Commerce Department issued a downward revision of fourth-quarter G-D-P, now put at two-point-two percent. Still to come, there are reports due on January new home sales and the Energy Department's weekly reading on fuel inventories.

The Dow closed  with a loss of more than 400 points, or three-point-three percent.

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