Stocks closed lower on Wall Street Monday after an early rally evaporated by midafternoon, marking a choppy start to a week full of updates on the two things that set stock prices: how much profit companies are making and where interest rates are heading.
The S&P 500 fell 0.8 percent after having been up 1 percent in the early going, The index broke a five-day losing streak at the end of last week. Gains in energy producers, big retailers, and other companies that rely on consumer spending were outweighed by a pullback in health care and technology stocks. Goldman Sachs rose after reporting better profit for the spring than expected.
