Stocks Open Modestly Lower Ahead of Data

Equity traders monitor share prices on the floor of the New York Stock Exchange, Wednesday, Aug. 29, 2007. Stocks advanced Wednesday as investors scooped up bargains after the previous session's huge tumble. (AP Photo/John Marshall Mantel)

NEW YORK - Wall Street is down modestly in early trading, with investors cautiously awaiting a fresh snapshot of the manufacturing sector from the Commerce Department's report on factory orders.

Also during the session, automakers are expected to report sluggish August sales that were hurt by the economic slump and soaring gas prices. Industry experts expect most major car manufacturers to post declining sales for the month.

Worries about the economy are again offsetting relief about falling oil prices, which have dipped to about $108 a barrel.

The Dow Jones industrial average is down about 42 points at the 11,474 level.