Updated from 1:15 p.m. EDTStocks on Wall Street were trading off their earlier lows Tuesday afternoon, as traders picked through a large, lackluster pile of corporate earnings statements. The Dow Jones Industrial Average was down 12 points at 9253, and the S&P 500 was giving back 5 points at 980. The Nasdaq was down 28 points at 1742. On Monday, the major indices rallied sharply as credit markets opened up somewhat and Federal Reserve Chairman Ben Bernanke said an economic stimulus package may be a good idea. "Wall Street is up to its eyeballs in earnings reports," said Fred Dickson, director of client research and chief market strategist at DA Davidson. He said investors are trying to figure out whether earnings estimates for the current quarter are too high and how much they may have to be reduced. Dickson said the market is experiencing a normal pullback from yesterday's substantial rally. He said that from here he expects the market to be range-bound, with the Dow trading between 7500 and 9500. "We're taking a wait-and-see approach before we say the bear market hit its bottom on Oct. 10," said Dickson. After the close of Monday's session, credit card firm American Express ( AXP) reported earnings that fell year over year but still beat analysts' expectations. Elsewhere in the financials, business wasn't looking as good. Regional banks Fifth Third ( FITB), National City ( NCC) and KeyCorp ( KEY) all announced losses stemming from bad loans. National City said it plans to cut 4,000 jobs. US Bancorp ( USB) said its income fell from a year ago.