US STOCKS SNAPSHOT-Wall Street cuts losses on stimulus hopes

Published: 22 Jan 2009 19:09:45 PST

NEW YORK, Jan 22 - U.S. stocks pared losses on Thursday after the White House said it is committed to moving as quickly as possible on an economic stimulus package.

* Financials trimmed losses after President Barack Obama's administration said public money will help support banks, but with strings attached on executive pay.

* Indexes were well off earlier lows. The Dow Jones industrial average was down 62.13 points, or 0.76 percent, at 8,165.97. The Standard & Poor's 500 Index was down 4.48 points, or 0.53 percent, at 835.76. The Nasdaq Composite Index was off 20.98 points, or 1.39 percent, to 1,486.09.