U.S. stocks declined Monday as oil fell to trade near lows for the year.
The Dow Jones industrial average faltered 151.42 points, to pause for lunch at 17,696.21, after a gain of more than 360 points on Friday.
Chevron and Exxon Mobil weighed. The index fell back into negative territory for the year in intraday trade.
The S&P 500 shed 15.93 points to 2,075.76. Natural gas companies led sector decliners in morning trade as natural gas fell more than 4% to hit two-week lows.
The NASDAQ index swooned 38.66 points to 5,103.61
In individual stock news, Chipotle Mexican Grill fell more than 4.5% in intraday trade after the company on Friday issued a fourth-quarter warning and said its sales have been hammered due to an E. coli outbreak.
Keurig Green Mountain surged 73% to trade just below $90.00 U.S. a share after the firm said it has agreed to be taken private by an investor group led by JAB Holding for $92.00 U.S. a share in cash. Trade volume was more than quadruple its 30-day average.
General Electric traded more than 0.5% lower after it deal to sell its appliance business to Swedish appliance maker Electrolux fell through, Reuters reported. The deal, which had been announced last year, would have been Electrolux's largest acquisition ever.
The decline in oil prices came after the Organization of the Petroleum Exporting Countries failed on Friday to agree on a production curb to stem sliding prices and a stronger dollar made holding crude positions more expensive.
Prices for the 10-year Treasury gained, lowering yields to 2.22% from Friday's 2.28%. Treasury prices and yields move in opposite directions.
Oil prices ditched $1.84 a barrel to $38.13 U.S.
Gold prices demurred $9.80 to $1,076.64 U.S. an ounce.
Source: Baystreet US Market Commentary
(December 7, 2015 - 1:29 PM EST)
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