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U.S. stocks open nearly flat after Trump speech

Xinhua, January 23, 2017 Adjust font size:

U.S. stocks opened little changed on Monday as investors digested corporate earnings reports and President Donald Trump's inauguration speech.

In his inauguration address on Friday, Trump pledged to put "America first," reigniting worries of protectionist policies. But he did not touch on specific economic or trade policies.

U.S. stocks posted solid gains after Trump won the presidential election as investors bet that he would pursue massive corporate tax cuts, deregulation, and infrastructure spending.

There are no major economic data scheduled to be released on Monday.

Shortly after the opening bell, the Dow Jones Industrial Average ticked up 2.48 points, or 0.01 percent, to 19,829.73. The S&P 500 lost 0.97 points, or 0.04 percent, to 2,270.34. The Nasdaq Composite Index gained 4.14 points, or 0.07 percent, to 5,559.47.

U.S. stocks wavered for the holiday-shortened last week as Wall Street pondered over a batch of global economic and political events. Endi