Stocks are moderately higher following gains in overseas markets driven by upbeat economic news from Germany.
Some of the rebound is to be expected after Monday's sharp decline, which took the Dow Jones industrials down 186 points. Investors have been worried that nervous consumers won't spend enough to lift the economy into recovery.
Gains are being held in check by lackluster earnings reports from retailers and a report showing construction of new homes fell more than expected in July.
In early trading, the Dow is up 36 at 9,172. The Standard & Poor's 500 index is up 5 at 984, while the Nasdaq composite is up 13 at 1,944.
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