Stocks Slide on Conflicting Signs about Economy

NEW YORK (AP) -- Investors are pulling away from stocks as conflicting signs emerge about the direction the economy is taking.

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Oil prices are falling as traders bet that continued weakness in the economy will crimp demand for energy. But stocks are off their lowest levels after a trade group's index of services industry activity rose in June to its best level in nine months.

Investors are cautious after a strong rally in stocks since March, fearing that they might have been too optimistic about how soon the economy will recover.

At midday Monday, the Dow Jones industrial average is down 34 at 8,247. The Standard & Poor's 500 index is down 6 at 891. The Nasdaq composite index is off 21 at 1,775.

TM & Copyright 2009 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO & EYE Logo TM & Copyright 2009 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. TheAssociated Press contributed to this report.

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