Stocks fell on Wall Street on Monday as markets digested a rise in oil prices and looked ahead to key US inflation data.
In early trading, the Dow Jones Industrial Average was down 0.2 percent at 53,937.14. The broad-based S&P 500 dipped 0.1 percent to 7,753.90, while the tech-rich Nasdaq Composite Index shed 0.2 percent to 26,638.35.
Crude prices rose about 1.5% after Iran said it would not reopen the Strait of Hormuz until the United States complied with a list of demands, including paying compensation for war damage.
This week, the markets will get fresh updates on consumer and wholesale inflation, as well as a retail sales report for July.
On Friday, US stocks rose after weak employment report that showed the United States unexpectedly lost thousands of jobs in July. Following the release of jobs data as markets downgraded the odds of imminent Federal Reserve interest rate increases.
