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U.S. stocks traded lower Monday, with energy stocks weighing as oil prices declined, as investors looked ahead to a busy week of earnings and central bank meetings.
The Dow Jones Industrials retreated 97.17 points to 18,473.68, Chevron and UnitedHealth contributing the most to declines.
The S&P 500 slid 10.67 points to 2,164.36, with energy leading all 10 sectors lower.
The NASDAQ dropped 13.33 points to 5,086.83
In corporate news, Verizon announced Monday plans to acquire Yahoo for $4.8 billion U.S. in cash.
Apple is scheduled to report earnings Tuesday after the close. 3M, Caterpillar, DuPont, McDonald's, United Technologies and Verizon are due to post results ahead of the open.
The U.S. Federal Reserve is scheduled to conclude its two-day meeting Wednesday afternoon. While the central bank is not generally expected to raise rates, indications in the statement on the timing of the next hike will be key.
Prices for the 10-year Treasury gained ground, lowering yields to 1.55% from Friday’s 1.56%. Treasury prices and yields move in opposite directions.
Oil prices backtracked 86 cents a barrel to $43.33 U.S.
Gold prices subtracted $10.80 to $1,312.60 0 U.S. an ounce.
