Wall Street Closes Lower as Major Companies Shed Gains

U.S. stocks closed lower on Monday, relinquishing the gains made last week as investors await employment data this week that could alter expectations for the Federal Reserve to lower interest rates early next year. The S&P 500 index fell as companies like Microsoft, Apple, Nvidia, and Amazon faced pressure from rising U.S. Treasury yields, making stock returns less attractive. Wall Street had risen in recent weeks, buoyed by strong corporate earnings and expectations of a rate cut by the Federal Reserve in March.