Stocks weaken in early trade - WKOW 27: Madison, WI Breaking News, Weather and Sports

Stocks weaken in early trade

NEW YORK (AP) -- Stock prices are lower in early trading.

  The Dow Jones Industrial Average is down 90 points in today's early going.

  The Nasdaq Composite Index is down 27 points and the Standard-and-Poor's 500 Stock Index is down 12 points.

  Wall Street now waits for the Federal Reserve to show its hand on interest rates later today.

  A day after investors sent the Dow up nearly 890 points, the central bank is expected to cut interest rates.

  Before the opening bell, the government reported that orders for durable goods rose 0.8 percent in September, marking the largest gain in three months.

  Analysts had forecast a drop of 1.5 percent.

  In company news, consumer products giant Procter and Gamble reported that fiscal first quarter earnings rose nearly 9 percent on strong growth in emerging markets.

  The per-share estimate topped analyst forecasts.

  General Motors says its third-quarter global sales were down 11 percent because of weak demand in the U.S. Toyota's sales fell 4 percent.

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