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U.S. stocks open narrowly mixed ahead of Fed policy meeting

Xinhua, September 14, 2015 Adjust font size:

U.S. stocks opened mixed Monday as investors kept cautious ahead of the Federal Reserve's key policy meeting.

With no major economic data due out Monday, Wall Street remains focused on the Fed ahead of its policy meeting on Sept. 16-17, when the U.S. central bank could raise interest rates for the first time in more than nine years.

Wall Street economists are split on whether the Fed will raise rates Thursday, with a small majority forecasting no rate rise at the meeting, according to the Wall Street Journal.

"We expect a hike because the Fed's forward guidance conditions have been met. In addition, speeches, interviews and testimony suggest an overwhelming majority of FOMC (Federal Open Market Committee) voters favor a hike," chief economist at FTN Financial Chris Low said in a note.

Uncertainty about the Fed's decision whether or not to hike rates at its two-day policy meeting has been contributing to recent volatility in the market.

Shortly after the opening bell, the Dow Jones Industrial Average fell 10.22 points, or 0.06 percent, to 16,422.87. The S&P 500 edged down 0.82 point, or 0.04 percent, to 1,960.23. The Nasdaq Composite Index added 6.05 points, or 0.13 percent, to 4,828.39.

On Friday, U.S. stocks pared early losses to end higher as investors pondered over economic reports. Endi