US stocks open week lower

New York - US stocks fell in opening trade on 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.

The broad-based S&P 500 shed 0.51% at 2 080.77, while the tech-rich Nasdaq Composite Index dropped 0.45% 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 on Wednesday could shed light on the US central bank's timing of an interest rate increase, expected later this year.

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