Stocks Ended Lower, Eyed on Earnings

U.S. stocks closed slightly lower on Monday, as investors girded for the start of an earnings season expected to be gloomy. The Dow Jones Industrial Average fell 20.55 points, or 0.12%, to 17,556.41. The S&P 500 was off 5.61 points, or 0.27%, to 2,041.99. The Nasdaq Composite was down 17.29 points, or 0.36%, to 4,833.40.

Alcoa reported first-quarter profits that topped analysts’ expectations after the closing bell on Monday. The aluminum giant reported adjusted earnings per share (EPS) of $0.07 and revenues of $4.95 billion. Its revenues fell 15% year-on- year.

Brent crude prices touched a four-month high on Monday in a rally fuelled by strong markets across commodities, ahead of a meeting of oil producers in Doha next Sunday aimed at freezing current output levels. Brent crude futures settled up 89 cents, or 2.12 percent at $42.83 a barrel. U.S. crude futures settled up 64 cents, or 1.6 percent, at $40.36 a barrel.

Goldman Sachs Group Inc. will pay $5.1 billion to resolve US allegations that it failed to properly vet mortgage-backed securities before selling them to investors as high-quality debt.