NEW YORK (AP) _ Stock prices have opened lower. The Dow Jones Industrial Average is down 32 points in today's early going. Losers on the New York Stock Exchange hold a 9-8 lead over gainers.

The Nasdaq Composite Index is down 17 points and the S&P 500 Index is down 3 points.

Analysts looked for stocks to decline after a Commerce Department report indicated Americans continue to spend freely. That reignited fears that the Federal Reserve will raise interest rates, possibly as early as next week.

The government report also indicated that the personal savings rate remains at a record low.

There also could be some selling as the quarter begins as portfolio managers unload stocks they bought to make there end of the quarter books look good.