Wall Street opens lower after five-day surge


FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 10, 2019. REUTERS/Brendan McDermid

(Reuters) – U.S. stocks fell at the open on Friday after rallying for the past five sessions on hopes of a resolution in the U.S.-China trade dispute and assurances from the Federal Reserve that it would be patient on interest rate hikes.

The Dow Jones Industrial Average .DJI fell 61.91 points, or 0.26 percent, at the open to 23,940.01. The S&P 500 .SPX opened lower by 8.53 points, or 0.33 percent, at 2,588.11. The Nasdaq Composite .IXIC dropped 38.61 points, or 0.55 percent, to 6,947.46 at the opening bell.

Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta



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