Stocks drifted lower Monday, shedding some gains from last week. Falling oil prices pulled down energy stocks.
At the close on Wall Street, the Dow Jones industrial average was down 86 points, about 0.5 percent, at 18,105.2. The Dow climbed 266 points on Friday. The Standard & Poor's 500 index lost 10.8 points, about 2,105.3. The Nasdaq composite gave up nearly 10 points, about 0.2 percent, to 4,993.6.
As the markets closed, the price of a barrel of the U.S. benchmark crude was down 22 cents, about 0.4 percent, $59.17. It had been above $60 a barrel on the New York Mercantile Exchange.
THE QUOTE: "The thing to watch today is going to be crude oil," said analyst JJ Kinahan, TD Ameritrade's chief strategist. "We have crude down a little bit today and energy stocks are having a tough time."
SECTOR WATCH: Nine of the 10 sectors in the S&P 500 declined, led by energy stocks. Health care edged higher.
SLIPPING AND SLIDING: Shares in several oil exploration and production companies moved lower. QEP Resources fell $1.12, or 5.2 percent, to $20.47, while Murphy Oil slid $1.58, or 3.4 percent, to $45.06. National Oilwell Varco shed $2.04, or 3.8 percent, to $51.19.
OIL DEAL: Noble Energy agreed to buy Rosetta Resources for about $2.1 billion in stock. The deal gives the oil and gas company access to two massive Texas shale formations, immediately boosting its earnings. Still, Noble Energy fell $3.19, or 6.5 percent, to $45.93
SOLID EARNINGS: Better-than-expected quarterly results sent shares in Actavis and Dean Foods higher. Actavis rose $9.18, or 3.1 percent, to $302, while Dean Foods gained $1, or 6.1 percent, to $17.28.
MONSTER GAIN: Investors bid up shares in Monster Beverage after a Citi analyst upgraded the energy drink maker. The stock jumped $5.74, or 4.5 percent, to $134.21. The gain was among the biggest among all stocks in the S&P 500.