US stocks open lower

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IOL wall street THE PHOTO HOLIC File image

US stocks opened with modest losses Monday in a quiet market lacking significant economic news for direction.

The Dow Jones Industrial Average was down 23.11 points (0.17 percent) at 13,252.09 in the first five minutes of trade.

The S&P 500-stock index dipped 1.89 (0.13 percent) to 1,416.27, while the tech-rich Nasdaq slipped 4.23 (0.14 percent) to 3,072.36.

“Market action is expected to be relatively quiet with no major economic data releases today,” Wells Fargo Advisors analysts said.

Wall Street paused after two straight days of gains left the Dow on Friday at its highest level since the last days of 2007.

The Dow and the S&P each rose 0.2 percent and the Nasdaq gained 0.5 percent. - Sapa-AFP

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