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U.S. stocks open lower ahead of Fed minutes

Xinhua, May 20, 2015 Adjust font size:

U.S. stocks opened lower on Wednesday, following a record close on the Dow, as investors awaited the release of U.S. Federal Reserve meeting minutes.

The Federal Reserve Open Market Committee is to release the minutes from its April meeting later Wednesday.

A whole batch of disappointing economic reports was released since the Fed's April meeting, leading many analysts to expect a rate hike in September or next January.

Chicago Fed Resident Charles Evans said Wednesday that a rate hike is not likely to be appropriate until early 2016, according to Reuters.

Markets are also putting a greater focus on Janet Yellen's speech this Friday for possible new clues of an upcoming rate hike.

Shortly after the opening bell, the Dow Jones Industrial Average was down 23.45 points, or 0.13 percent, to 18,288.94. The S&P 500 shed 2.60 points, or 0.12 percent, to 2,125.23. The Nasdaq Composite Index lost 6.32 points, or 0.12 percent, to 5,063.71.

U.S. stocks ended narrowly mixed on Tuesday, with the Dow Jones Industrial Average eclipsing previous day's closing record, as April's housing data came out well above market consensus. Endi