(CNBC) — U.S. equities close slightly lower on Monday, despite a rise in oil prices, as investors awaited key retail sales data due later this week.
"What I'm looking for is to see if this [rotation between sectors] continues," said Adam Sarhan, CEO of Sarhan Capital. "Every day there seems to be" a new sector leading the market.
The benchmark S&P 500 fell 0.2 percent in afternoon ET, slightly extending losses, being led lower by health care. Energy, on the other hand, rose more than 1 percent. Earlier in the session, the S&P set a fresh all-time intraday high of 2,185.54.
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"To some extent, people don't know what to make of the market," said Bruce McCain, chief investment strategist at Key Private Bank. "It's done exceptionally well" despite mixed data.