Stocks slide on conflicting signs about economy

NEW YORK (AP) — Investors pulled away from stocks again Monday as conflicting signs emerged about the direction the economy is taking.

Oil prices fell as traders bet that continued weakness in the economy would crimp demand. But stocks pulled off their lowest levels after a trade group reported that its index of services industry activity rose to its best level in nine months in June.

Investors are cautious after a strong rally in stocks since March, fearing that they might have been too optimistic in their expectations about how soon the economy can recover from the recession that began in December 2007.

Oil fell about 2.5 percent on the growing belief that the economy won't be strong enough to lift demand for energy as much as had been expected. Last week, oil hit an eight-month high above $73.