NEW YORK, June 17 (Xinhua) -- US stocks opened slightly higher on Monday, as investors has been looking forward to US Federal Reserve's monetary policy meeting this week.

Traders on the floor of the New York Stock Exchange (File photo: AFP)

Shortly after the opening bell, the Dow Jones Industrial Average rose 25.93 points, or 0.10 percent, to 26,115.54. The S&P 500 was up 4.66 points, or 0.16 percent, to 2,891.64. The Nasdaq Composite Index increased 25.88 points, or 0.33 percent, to 7,822.54.

Shares of Sotheby's sharply rose almost 57 percent after the New York-based auction house announced Monday that it would be acquired by BidFair USA in a deal valued at 3.7 billion US dollars.

BidFair USA is owned by French media and telecom entrepreneur and art collector Patrick Drahi. It will pay 57 dollars per share in cash, a 61 percent premium to the company's closing share price last Friday.

Six of the 11 primary S&P 500 sectors traded higher around early morning sessions, with the utilities sector up nearly 1 percent, leading the gainers.

The US central bank is set to hold a key policy meeting on June 18-19. Wall Street has been searching for clues about Fed's possible tightening moves in the future.

Market expectations point to interest rate cuts this year to shore up the US economy amid concerns that escalating trade tensions are weighing on growth pace.