US Stocks Drop Along With Oil Prices

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U.S. bonds retreated in early trade Monday, fluctuating final week’s waste as investors focused on a renewed dump in oil prices and a entrance fourth-quarter gain season.

The Dow Jones Industrial Average mislaid 104 points, or 0.6%, to 17634 shortly after a open. The SP 500 index declined 13 points, or 0.6%, to 2032. The Nasdaq Composite Index mislaid 24 points, or 0.5%, to 4680.

Investors eyed a slip in U.S. oil prices, that stirred nonetheless another decrease in appetite stocks. Shares of appetite firms in a SP 500 forsaken 2.7%, posting a steepest waste opposite vital sectors.

The slip in oil prices seemed once again to be boring down a broader market, pronounced Michael Antonelli, sales merchant during Robert W. Baird. “A 4% dump in wanton is apparently going to have some impact,” he said.

U.S. oil futures fell 4.2% to $46.33 a barrel. Shares of appetite companies were broadly lower, with


Chevron
Corp.

batch shedding 2.1% and


Exxon Mobil
Corp.

losing 1.5%. Energy bonds in a SP 500 have declined 5.6% so distant this year.

With no vital mercantile information due on Monday, investors are approaching to change their courtesy this week to a fourth-quarter gain season, whose unaccepted start comes after a shutting bell Monday when


Alcoa
Inc.

is set to news earnings.

Earnings for companies in a SP 500 are approaching to arise 1.1% in a quarter, a weakest entertain for distinction expansion given a third entertain of 2012, according to FactSet. The pointy decrease in oil prices has tempered increase in a once-burgeoning appetite sector, while a stronger dollar is crimping business for exporters and companies with vast abroad operations.

“Investors will be eyeing really delicately a stronger dollar’s impact” on earnings, pronounced

Peter Cardillo,

arch marketplace economist during broker-dealer Rockwell Global Capital.

Declines in bonds over a final dual weeks has sent a SP 500 descending 1.4% so distant in 2015. Investors are widely awaiting a rockier duration for markets in a year forward on a heels of final year’s 11% rally. Though they have been cheered by a solid expansion in a U.S. economy, doubt over a Federal Reserve’s timeline for lifting seductiveness rates and diseased expansion elsewhere in a grown universe has marketplace watchers fresh for wider swings in stocks.

Alcoa Inc. reports fourth-quarter gain Monday after markets close. Aluminum is fed into a appurtenance during an Alcoa trickery in Iowa.
ENLARGE

European bonds remained higher. The Stoxx Europe 600 index recently climbed 0.6%. The euro fell 0.4% to $1.1794, driven by a dissimilarity in financial process between a Federal Reserve and European Central Bank.

Gold futures combined 0.5% to $1222.20 an ounce.

In understanding news,


Roche Holding
AG

concluded to compensate $1.03 billion for a interest of adult to 56.3% in


Foundation Medicine
Inc.

Shares of Foundation Medicine surged 113%.


Shire

PLC is shopping


NPS Pharmaceuticals
Inc.

for $5.2 billion. NPS Pharmaceuticals creates treatments for singular diseases. U.S.-listed shares of Shire fell 1.3%, while shares of NPS jumped 8.4%.

The produce on a 10-year Treasury note inched down to 1.933% from 1.975% on Friday. Yields tumble as prices rise.

No mercantile releases are scheduled for Monday. Later in a week, investors will demeanour for information on sell sales and consumer sentiment.

Elsewhere,


Bristol-Myers Squibb
Co.

shares rose 4.3% after a association pronounced a late-stage investigate of a skin-cancer drug Opdivo met a primary endpoint. Bristol-Myers Squibb pronounced it would finish a hearing early.

Write to Dan Strumpf during daniel.strumpf@wsj.com and Saumya Vaishampayan during saumya.vaishampayan@wsj.com

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