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U.S. stocks open lower after CPI data

Xinhua, September 16, 2016 Adjust font size:

U.S. stocks opened lower Friday as investors pondered over the newly-released key inflation data ahead of the Federal Reserve's policy meeting next week.

The Consumer Price Index (CPI) for all urban consumers increased 0.2 percent in August on a seasonally adjusted basis, beating market consensus of 0.1 percent, the U.S. Labor Department reported Friday.

Over the last 12 months, the all items index rose 1.1 percent before seasonal adjustment.

The index for all items less food and energy increased 0.3 percent in August, following a 0.1-percent increase in July.

Investors kept a close eye on the Federal Reserve's two-day policy meeting scheduled to begin on Sept. 20.

Financial markets have been choppy in recent sessions on contrasting remarks by Fed officials ahead of the central bank's meeting.

Shortly after the opening bell, the Dow Jones Industrial Average fell 33.52 points, or 0.18 percent, to 18,178.96. The S&P 500 lost 4.74 points, or 0.22 percent, to 2,142.52. The Nasdaq Composite Index was down 5.76 points, or 0.11 percent, to 5,243.92.

On Thursday, U.S. stocks posted solid gains as Wall Street digested a slew of economic data. Endi