U.S. stocks open mixed amid rate hike concern

U.S. stocks opened mixed on Monday, the first trading day of the month, as traders shifted their focus from corporate earnings to the timing of the next interest rate hike.

After the conclusion of a two-day meeting earlier last week, the central bank kept the federal funds rate unchanged, reiterating that it would continue to closely monitor inflation indicators and global economic and financial developments.

However, Federal Reserve officials noted risks to the economic outlook have diminished this time, leaving doors open to raise rates possibly as early as September.

Meanwhile, investors will keep a close eye on Friday's nonfarm jobs report for more clues on the central bank's next move.

Shortly after Monday's opening bell, the Dow Jones Industrial Average ticked down 5.30 points, or 0.03 percent, to 18,426.94. The S&P 500 fell 1.91 points, or 0.09 percent, to 2,171.69. The Nasdaq Composite Index edged up 0.60 point, or 0.01 percent, to 5,162.73.

U.S. stocks wavered and traded mixed last week, as Wall Street mainly focused on corporate earnings and economic reports.

U.S. real gross domestic product increased at an annual rate of 1.2 percent in the second quarter of 2016, well below market consensus of 2.6 percent, according to the "advance" estimate released by the Commerce Department Friday.

Last week, the Dow fell 0.7 percent, and the S&P 500 edged down 0.1 percent, while the Nasdaq gained 1.2 percent. Endi