U.S. stocks mostly declined on Monday, with energy producers leading losses on oil’s drop to a multi-month low, as investors retreated after a fifth week of gains lifted the S&P 500 to a record, with the Dow Jones Industrial Average not far behind.
“Everyone is trying to reconcile a month’s worth of ridiculously good economic data and Friday’s jobs report. How can the two be? It’s confounding. It may take until Friday to get investors’ confidence back up,” said John Lynch, regional chief investment officer for Wells Fargo Private Bank.
The data from the Labor Department showed the creation of 142,000 jobs last month, so far from the 225,000 estimated that many economists dismissed it out of hand.