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U.S. stocks open slightly lower after recent rally

Xinhua, March 21, 2016 Adjust font size:

U.S. stocks opened fractionally lower on Monday as Wall Street turned cautious after five weeks of solid gains.

Shortly after the opening bell, the Dow Jones Industrial Average edged down 10.45 points, or 0.06 percent, to 17,591.85. The S&P 500 fell 2.23 points, or 0.11 percent, to 2,047.35. The Nasdaq Composite Index decreased 3.93 points, or 0.08 percent, to 4,791.71.

On Friday, U.S. stocks ended higher as the Federal Reserve's decision to keep interest rates unchanged continued to drive the stock market.

All three major indices had posted a five-week winning streak on Friday, boosted by rebounding commodity prices, stimulus announcement from the European Central Bank, and the U.S. Fed decision.

Oil volatility was also in focus. Oil prices struggled for gains early Monday as investors digested news of a modest rise in U.S. drilling activity. Endi