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U.S. stocks open lower ahead of Fed Meeting

Xinhua, July 25, 2016 Adjust font size:

U.S. stocks opened lower Monday as Investors awaited the Federal Reserve's policy meeting scheduled to begin Tuesday.

Investors kept a close eye on the Fed's two-day policy meeting for more clues on the timing of a next rate hike.

Meanwhile, with no major economic data due Monday, earnings season was in the market's spotlight. The coming week is the busiest of the second-quarter earnings season, with key names, including Apple, Facebook and Exxon Mobil, slating for release.

U.S. stocks ran into a record setting stage in the past two weeks, with both the Dow Jones Industrial Average and the S&P 500 refreshing their closing records seven times for 2016, boosted by upbeat economic data and better-than-expected quarterly results from big companies.

Last week, all three major indices rallied for a fourth consecutive week, with the Dow, the S&P 500 and the Nasdaq going up 0.3 percent, 0.6 percent and 1.4 percent, respectively.

Shortly after the opening bell, the Dow Jones Industrial Average fell 39.13 points, or 0.21 percent, to 18,531.72. The S&P 500 lost 3.17 points, or 0.15 percent, to 2,171.86. The Nasdaq Composite Index edged down 2.04 points, or 0.04 percent, to 5,098.12.

On Friday, U.S. stocks rebounded, with the S&P 500 setting a new closing record, as investors pondered over quarterly earnings and positive economic data. Endi