Stocks Bounce Back From Initial Slide - U.S. Commentary

(RTTNews) - Wall Street saw choppy trading in the initial stages of Monday's session. Initial selling pressure extended last week's decline, but a rebound quickly followed and stocks are now sitting near the unchanged mark.

The Dow Jones Industrial Average is down about 13 points at 18,074. The S&P 500 is showing a fractional gain at about 2,129. The Nasdaq is higher by about 6 points, edging up to 5,132.

As expected, there was an initial decline as Monday's trading opened, spurred by weakness overseas and continued worries about the future of interest rates.

However, the initial sell off quickly reversed, with the major averages bouncing back toward the unchanged line. Following the sharp decline on Friday, many traders obviously felt that the current correction had become overblown.

Buying interest, at least in the early going, has been limited. The Federal Reserve decision still looms next week and, as long as conditions remain the same, traders are likely going to be reluctant to make large moves ahead of the announcement.