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

U.S. stocks opened narrowly mixed Monday as Wall Street digested quarterly earnings reports ahead of the Federal Reserve' s two-day meeting scheduled to begin Tuesday.

Shares of Xerox Corp. fell about 1 percent in early trading Monday after the company delivered quarterly earnings above estimates but revenues shy of forecast.

The U.S. printer maker reported third-quarter 2015 earnings of 4 cents per share on 4.3 billion U.S. dollars in revenues, compared with earnings of 22 cents per share on 4.8 billion dollars in revenues a year ago.

Meanwhile, investors keep a close eye on the Fed' s two-day policy meeting. Some analysts expect that the Fed will start its first interest rate hike in almost nine years in December if the economy does not slow significantly.

On the economic front, U.S. new-home sales for September are due out later in the morning.

Shortly after the opening bell, the Dow Jones Industrial Average edged up 5.08 points, or 0.03 percent, to 17,651.78. The S&P 500 inched down 1.00 point, or 0.05 percent, to 2,074.15. The Nasdaq Composite Index fell 1.23 points, or 0.02 percent, to 5,030.64.

On Friday, U.S. stocks surged as the interest rate cut by China' s central bank and the release of strong quarterly results from three tech giants ignited investor enthusiasm.

All three major indices witnessed solid gains last week, with the Dow, the S&P 500 and the Nasdaq surging 2.5 percent, 2.1 percent and 3.0 percent, respectively. Endi