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US stocks open lower as Wall Street hedges bets ahead of Comey testimony

U.S. equities opened lower on Tuesday as Wall Street took profits ahead of key events slated for later this week.

The Dow Jones industrial average fell 58 points at the open, with Goldman Sachs contributing the most losses. The S&P 500 dipped 0.3 percent, with financials lagging. The Nasdaq composite pulled back 0.25 percent.

Bond prices, meanwhile, caught a bid as the benchmark 10-year note yield hit its lowest level since the days following the U.S. presidential election. Gold prices also hit their highest level in seven weeks.

“The Comey testimony may give us something to talk about. I think it could be a he-said-he-said situation which could put off what can be done in Washington,” said Bruce McCain, chief investment strategist at Key Private Bank.

Former FBI Director James Comey is slated to testify Thursday in front of the Senate intelligence committee, marking his first public comment since being fired by President Donald Trump.

Comey will certainly be asked about his reported conversations with Trump and any efforts the president made to interfere with a probe on former national security advisor Michael Flynn.

source : CNBC

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