US: Stocks open week lower

[NEW YORK] US stocks fell in opening trade Monday, kicking off a week that includes earnings from Wal-Mart Stores and the release of Federal Reserve meeting minutes.

Five minutes into trade, the Dow Jones Industrial Average was at 17,357.04, down 120.36 points (0.69 per cent).

The broad-based S&P 500 shed 10.77 (0.51 per cent) at 2,080.77, while the tech-rich Nasdaq Composite Index dropped 22.51 (0.45 per cent) to 5,025.73.

Monday's early losses followed modest gains last week as US stocks shook off unease over a surprise Chinese currency devaluation. The S&P 500 has traded consistently between 2,050 and 2,125 during most of the last six months.

Fed monetary policy meeting minutes Wednesday could shed light on the US central bank's timing of an interest rate increase, expected later this year.

AFP