NEW YORK (CNN/Money) - U.S. stocks declined early Wednesday, with investors pulling back amid higher oil prices, mixed economic news and an unsurprising retreat after Tuesday's robust rally.

After 10 minutes of trading, the Dow Jones industrial average (down 37.61 to 9981.86, Charts), the Standard & Poor's (down 3.98 to 1091.47, Charts) 500 index and the Nasdaq composite (down 11.12 to 1920.23, Charts) all declined at least 0.4 percent.

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The major indexes had rallied smartly Tuesday, snapping back after a three-session selloff sparked by worries about how rising interest rates may hurt the recovery, corporate profits and stock valuations.

After such a run, the indexes were vulnerable to a pullback Wednesday. Adding to the murky opening were continued worries about oil prices, with light crude having settled at a new 13-year high Tuesday. Brent crude oil futures added 2 cents early Wednesday to $36.69 a barrel in London.

Upbeat earnings and forecasts from a few technology names failed to inspire the sector, with the tech-fueled Nasdaq retreating after having gained nearly 2 percent Tuesday.

Tech leader Cisco Systems (CSCO: down $0.06 to $22.19, Research, Estimates) reported earnings and revenue late Tuesday that rose from a year earlier and topped expectations, seen as a positive sign for a continued recovery in technology spending. However, some investors fretted about its rise in inventories and its less bullish than hoped for forecast for the fourth quarter.

Wireless telecom provider Qualcomm (QCOM: down $0.18 to $64.54, Research, Estimates) boosted its fiscal third-quarter forecast due to stronger licensing royalties and a pickup in demand for its cell phone chips.

(For a look at earnings due this week, click here.)

Investors also digested the morning's economic news. Higher oil prices pushed the deficit to a record high in March, the Commerce Department said. In addition, the price of imported goods in April inched higher, in line with expectations.

Treasury prices edged lower, pushing the 10-year note yield up to 4.76 percent from 4.74 late Tuesday. Treasury prices and yields move in opposite directions. The dollar was mixed versus the yen and euro.

COMEX gold rallied $6.00 to $383.20 following several sessions of selling.

In international trading, Asian markets closed mostly higher, while European markets were mostly weaker at midday there.