U.S. stocks retreat on profit-taking

U.S. stocks ended lower Monday, as investors became cautious after recent solid gains.

The Dow Jones Industrial Average fell 54.24 points, or 0.28 percent, to 19,097.90. The S&P 500 lost 11.63 points, or 0.53 percent, to 2,201.72. The Nasdaq Composite Index was down 30.11 points, or 0.56 percent, to 5,368.81.

Riding on a so-called Trump Rally after the U.S. presidency election, U.S. stocks had risen for three consecutive weeks till last Friday.

On Friday, all three major indices closed at record highs, with both the Dow and the Nasdaq extending their record run to a fourth straight session.

Traders also kept a close eye on oil prices volatility ahead of a key meeting of the Organization of the Petroleum Exporting Countries (OPEC) later this week.

OPEC had agreed in September to trim production amid a global glut of supply, but left the details of who cuts how much to a meeting in Vienna on Wednesday.

Oil prices increased substantially on Monday after initially tumbling as much as 2 percent, as Iraq and Iran both expressed willingness to cut crude oil output.

There was no major economic data due Monday. Wall Street will focus on November's nonfarm payrolls due Friday for more indications on the timing of next interest rate hikes.

The U.S. Federal Reserve is widely expected to raise interest rates at its December meeting. According to the CME Group's FedWatch tool Monday, market expectations for a December rate hike were 95.9 percent. Enditem