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NEW YORK - A rise in factory orders is doing little to ease investors' concerns about the economy.
The Commerce Department is reporting Tuesday that orders to U.S. factories rebounded in September after dropping in August. Orders for autos, heavy machinery and military aircraft rose.
Orders rose 0.9 percent in September, slightly better than the 0.8 percent advance economists expected.
Investors have also been drawing only modest comfort from investor Warren Buffett's decision to buy Burlington Northern Santa Fe railroad as they worry about unemployment and banks.
The Dow Jones industrials are down 38 at 9,751. The Dow was down 35 before the report. The Standard & Poor's 500 index is down 1 at 1,042. The Nasdaq composite index is down 5 at 2,044.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.
NEW YORK (AP) , Investors worried about the economic recovery drew only modest comfort from billionaire investor Warren Buffett's decision to buy one of the nation's largest railroads.
Buffett's Berkshire Hathaway said Tuesday it is paying $100 a share for Burlington Northern Santa Fe in a deal valuing the railroad at $34 billion.
Investors are on edge about unemployment and the stability of major financial firms in Europe.
Health care products maker Johnson & Johnson said it would cut up to 7 percent of its global work force and streamline its business structure to save up to $900 million next year.
In Europe, investors were unnerved by further efforts to restructure two of the U.K.'s largest banks. Lloyds said it was looking to raise about $34 billion through a share issuance, while the Royal Bank of Scotland got a $41 billion infusion from the government.
Investors around the globe have been uneasy in recent weeks, wary about whether the economic recovery can maintain the same pace once government stimulus measures are removed. That uncertainty has led to wild swings in the market. The Dow Jones industrial average has risen or fallen more than 100 points in six of the last eight trading days, the most volatility since March.
In early trading, the Dow fell 21.99, or 0.2 percent, to 9,767.45. The broader Standard & Poor's 500 index fell 5.41, or 0.5 percent, to 1,037.47. The Nasdaq composite index fell 13.65, or 0.7 percent, to 2,035.55.
Analysts expect trading to be choppy throughout the week, as the market readies for a frenzy of economic reports, which culminates Friday with the government's employment report for October.
On Tuesday, investors will get data on factory orders, as well as sales reports from major automakers. Analysts are expecting factory orders to have risen 0.8 percent in September, after falling by that amount the month before.
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