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Wall Street cuts losses on stimulus hopes


    NEW YORK (Reuters) - 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.

    (Reporting by Leah Schnurr; Editing by Jan Paschal)