US: S&P 500 opens lower as investors await Fed meet; JPMorgan climbs

THE S&P 500 opened lower on Monday (May 1) as investors refrained from making big bets ahead of the Federal Reserve’s policy decision this week, while JPMorgan shares rose as it agreed to buy most of the beleaguered First Republic Bank’s assets.

The Dow Jones Industrial Average rose 18.65 points, or 0.05 per cent, at the open to 34,116.81. The S&P 500 opened lower by 2.69 points, or 0.06 per cent, at 4,166.79, while the Nasdaq Composite dropped 16.54 points, or 0.14 per cent, to 12,210.05 at the opening bell. REUTERS