Stock market today: live updates

Stock prices fell on Monday as Wall Street struggled to maintain the momentum of Friday's rally amid headwinds from rising interest rates and higher oil prices.

The Dow Jones Industrial Average fell 106 points or 0.3%. The S&P 500 slipped 0.2%, and the Nasdaq Composite Lost 0.4%.

The benchmark 10-year Treasury yield rose 4 basis points to 4.02%. This is the first time since August that the yield has exceeded 4%. Higher oil prices also had a negative impact as tensions in the Middle East remain high. U.S. crude oil rose nearly 2% to above $75 a barrel.

Sam Stovall, chief investment strategist at CFRA Research, also pointed to a decline in third-quarter earnings expectations as a cause of market weakness earlier in the week.

Stovall suggested that these revisions could be due to management teams tempering their expectations so they can beat earnings forecasts again. The strategist noted that this has been a pattern in the past, with actual results beating quarter-end estimates in 60 of the last 62 quarters.

“I would like to say that you rarely get injured falling out of a basement window because the earning limit is so low now,” he added.

Monday's moves come after a bumpy week for stocks, with major averages posting modest gains. The S&P 500 gained 0.2% for the week, while the Nasdaq Composite edged up 0.1% and the Dow gained 0.1%.

It was the fourth straight week of success for all three averages, helped by a stronger-than-expected jobs report on Friday that gave greater support to the idea that the Federal Reserve could provide a “soft landing” for the U.S. economy. The Dow closed at a record high following the report.

Key economic releases next week include the Federal Reserve meeting minutes on Wednesday and the consumer price index report on Thursday. Earnings season is also picking up steam, with results of Delta Air Lines And JPMorgan Chase probably on Thursday or Friday.