Stocks End Lower as Earnings Loom

U.S. stocks closed lower on Monday, as investors remained cautious ahead of earnings season. The Dow Jones Industrial Average shed 80.61 points, or 0.45%, to 17,977.04. The S&P 500 lost 9.63 points, or 0.46%, to 2,092.43. The Nasdaq Composite was down 7.73 points, or 0.15%, to 4,988.25.

Corporate earnings kick into high gear this week. Estimates for first-quarter S&P 500 results have fallen sharply since Jan. 1, with earnings for the period expected to have declined 2.9 percent from a year ago, Thomson Reuters data showed.

Nokia Oyj is in advanced negotiations to acquire part of Alcatel-Lucent SA to strengthen its telecommunications equipment business and better compete with Ericsson AB, according to people familiar with the matter.

A board committee of the Metropolitan Water District of Southern California recommended Monday that the water wholesaler cut deliveries to the 26 cities and water districts it serves by 15% this year.

The majority of American families on public assistance or Medicaid are headed by at least one full-time worker, according to a report released Monday by U.C.