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US stocks dip in opening trade

AFP

US stocks opened modestly lower Monday as Wall Street entered the second full week of trade in the new year in restrained mode after an exuberant 2013 rally.

Five minutes into trade, the Dow Jones Industrial Average was down 16.38 points (0.10 percent) at 16,420.67.

The broad-market S&P 500 inched down 1.64 (0.09 percent) to 1,840.73 and the tech-rich Nasdaq slipped 2.69 (0.06 percent) to 4,171.97.

Wall Street was showing "some caution ahead of this week's plethora of key earnings reports," Charles Schwab & Co. said in a market note.