Stocks Under Pressure

By: Associated Press
By: Associated Press
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NEW YORK (AP) -- Stock prices are down in light trading at midday on Wall Street.

The Dow Jones industrial average is down 90 points at 8,424. Decliners on the New York Stock Exchange hold a seven-to-three lead over advancers.

The NASDAQ Composite Index has lost 27 points at 1,502.

And the Standard-and Poor's 500 Stock Index is down 11 points to 861.

Trading on the New York Stock Exchange during the first two hours totaled 996 million shares. Volume on the NASDAQ Market came to 383 million shares.

Stock prices have headed lower to begin another holiday-shortened trading week.

Oil has risen as traders react to the conflict between Israel and Gaza's Hamas rulers, which has raised tensions in the Middle East. Light, sweet crude was recently trading at $38 a barrel on the New York Mercantile Exchange.

This is a slow week for economic reports. Tomorrow, the Conference Board is to release the monthly index of consumer confidence.

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