Projo Cars Blog

NEW YORK -- Wall Street gave back some of the previous session's big gains Monday as investors awaited a reading on construction spending and examined calls from President-elect Barack Obama for an economic stimulus package, according to The Associated Press.

Some caution was to be expected after investors sent the Dow Jones industrial average soaring to a two-month high on Friday. Still, they remain hesitant about pouring more money into the battered market, given that economic data keeps coming in extremely weak.

Investors were awaiting fresh economic data for insight into the state of the economy. Economists anticipate that the Commerce Department on Monday will report another sharp drop in construction spending for November, and that automakers will report further declines in December vehicle sales. The Commerce Department is up first, expected at 10 a.m. EST.

 Tags  Auto sales

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