US stocks close lower despite energy sector's recovery

US stock indices fell on Monday, and pared early gains that came due to the energy and tech sectors' rally.

Investors are anticipating major US companies to report their quarterly results for the third quarter starting this week.

The energy sector rebounded thanks to the rising oil prices, as Brent crude surpassed the $84/barrel barrier.

Optimism about containing the coronavirus is growing, especially after Merck announced that it had applied to the FDA for an emergency use for its anti-viral vaccine.

To the oil market, WTI crude November futures rose 1.5% or $1.17, and closed at $80.52 a barrel, the first time closing above $80 since 2014.

Brent December futures rose 1.5% or $1.26, and closed at $83.65 a barrel.

As for stocks, Dow Jones fell 0.7% or 250 points, and closed at 34,496, with a day high of 34,951, and a low of 34,486.

S&P 500 fell 0.7% or 30 points to 4,361, after hitting a high of 4,415 and a low of 4,360 points.

Nasdaq fell 0.6% or 93 points to 14,486, with a high of 14,665 and a low of 14,482.