US stocks closed lower to start the week as investors prepared for an upcoming inflation report and earnings results from Nvidia.
The S&P 500 lost 0.3 per cent on Monday, dragged lower by technology stocks. Super Micro Computer, a partner of Nvidia, was the worst performer on the day, falling 8.3 per cent. The Nasdaq Composite fell 0.9 per cent as five Magnificent Seven groups declined.
The dollar gained 0.2 per cent against a basket of peer currencies. Moves in Treasuries were muted. Oil prices rose, with Brent crude adding 3.1 per cent to $81.43 a barrel, its highest settlement price in a month.