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U.S. stocks closed
U.S. stocks closed mildly higher Monday in low volume trade as investors readied for the first major earnings reports due Tuesday.
The Nasdaq composite closed above its 50-day moving average for the first time since Aug. 17. The Dow Jones industrial average and S&P 500 closed above their 50-day moving averages last week and have remained above.
The major U.S. averages struggled to hold higher during the trading session, with the three indexes dipping in and out of negative territory in early trade.
Utilities closed up 0.9 percent as the greatest advancer in the S&P, while energy fell 1.08 percent and materials closed down 0.88 percent as the only decliners. Both sectors rallied last week as the best performers in the S&P during that time.
Oil settled down $2.53, or 5.10 percent, at $47.10 a barrel, giving back more than half of last week's rally of nearly 9 percent. Monday's decline was the worst daily decline since Sept. 1. Brent also declined to hold just above $50 a barrel.
Chevron and IBM were the greatest weights on the Dow Jones industrial average.
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