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U.S. stocks open lower ahead of Christmas holiday

Xinhua, December 23, 2016 Adjust font size:

U.S. stocks opened lower Friday as many traders are expected to be away from their desks for the Christmas holiday.

Trading volume is expected to be light as investors prepare for their Christmas celebrations this weekend. U.S. stock markets will be closed Monday for the Christmas holiday.

Overseas, European markets continued to waver narrowly amid Deutsche Bank news. Shares of the bank climbed about 2 percent after the company agreed to pay 7.2 billion U.S. dollars to settle an investigation led by the U.S. Department of Justice.

In Asia, Chinese equities declined, with the benchmark Shanghai Composite Index going down 0.94 percent to 3,110.15 points.

On the economic front, U.S. new home sales and consumer sentiment are scheduled for release later in the morning.

Shortly after the opening bell, the Dow Jones Industrial Average fell 10.15 points, or 0.05 percent, to 19,908.73. The S&P 500 edged down 0.16 point, or 0.01 percent, to 2,260.80. The Nasdaq Composite Index decreased 2.54 points, or 0.05 percent, to 5,444.88.

On Thursday, U.S. stocks declined as investors digested an array of generally downbeat economic reports. Endi