US: Stocks dip ahead of Fed meeting

PHOTO: REUTERS

JUN 16, 20159:47 PM

[NEW YORK] Wall Street stocks opened slightly lower Tuesday ahead of a two-day Federal Reserve meeting expected to shed light on the US central bank's timing to raise interest rates.

Five minutes into trade, the Dow Jones Industrial Average stood at 17,786.43, down 4.74 points (0.03 per cent).

The broad-based S&P 500 dipped 0.82 (0.04 per cent) to 2,083.61, while the tech-rich Nasdaq Composite Index shed 2.52 (0.05 per cent) to 5,027.45.

Better jobs and retail sales data have altered the outlook somewhat for US monetary policy after a weak first quarter. Although the Fed is not expected to lift interest rates Wednesday, Fed Chair Janet Yellen could signal a move is near.

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AFP