U.S. stocks open lower after Christmas

NEW YORK, Dec. 26 (Xinhua) -- U.S. stocks opened lower on Tuesday, the first trading day after Christmas Day.

Shortly after the opening bell, the Dow Jones Industrial Average lost 9.39 points, or 0.038 percent, to 24,744.67. The S&P 500 decreased 1.23 points, or 0.046 percent, to 2,683.34. The Nasdaq Composite Index was down 29.04 points, or 0.42 percent, to 6,930.92.

U.S. markets were closed on Monday for the Christmas Day holiday. Major European markets remained closed Tuesday for the holiday.

Shares of Apple fell more than 2.5 percent on Tuesday after a report showed that the company will cut its sales forecast for the iPhone X by 40 percent in the quarter to 30 million units, according to CNBC.

With no major data due out on Tuesday, investors were still sifting through the newly-signed U.S. tax reform.

U.S. President Donald Trump on Friday signed a 1.5-trillion-dollar tax cut bill into law, as well as a spending bill to keep the federal government running through January 19, 2018.

The tax bill, the sweeping rewrite of U.S. tax law since 1986, would cut the corporate income tax rate to 21 percent from the current 35 percent and lower individual income rates.

Some companies said they would spend the savings from lower corporate taxes on higher wages and new construction. Enditem