Stock Ended Lower following Disappointing Car Sales

U.S. stocks ended lower on Monday as auto sales fell to a nearly three-year low. The Dow Jones Industrial Average dropped 13.01 points, or 0.06%, to 20,650.21. The S&P 500 fell 3.88 points, or 0.16%, to 2,358.84. The Nasdaq Composite shed 17.06 points, or 0.29%, to 5,894.68.

Vehicle sales in March fell to the lowest level in more than two years. According to Autodata, vehicle sales ran at a seasonally adjusted annual rate of 16.62 million, down from 17.58 million in February. The annual rate reached 18.54 million in December and has fallen since.

Oil futures retreated Monday, giving back some of last week’s gains as Libya’s largest oil field resumed production and traders continued to eye the commitment of major oil producers to an agreement to limit production. Light, sweet crude futures for delivery in May fell 36 cents, or 0.7%, to $50.24 a barrel. June Brent crude fell 41 cents, or 0.8%, to settle at $53.12 a barrel.