After treading water most of the day, stocks ultimately failed to build off of last week's rally. The Dow shed 62 points, while both the S&P 500 and Nasdaq logged modest losses as well, as investors questioned whether stocks are oversold or have bottomed out. Tech stocks took a hit today as the 10-year Treasury yield rose. A strong energy sector and upbeat durable-goods orders for May helped pare today's losses, though.

The Dow Jones Average (DJI -  31,438.26) dropped 62.4 points or 0.2% for the day. UnitedHealth Group (UNH) led the gainers, adding 2%. Salesforce (CRM), meanwhile, paced the laggards with a 2.5% drop.

The S&P 500 Index (SPX - 3,900.11) shed 11.6 points, or 0.3% for the day. Meanwhile, the Nasdaq Composite (IXIC - 11,524.55) lost 83.1 points, or 0.7% for the session.

Lastly, the Cboe Market Volatility Index (VIX - 26.95) fell 0.3 points or 1% for the day.

Oil Prices Edge Higher On Easing Demand Fears

Oil prices settled higher on Monday, while also closing at their highest level in roughly one week. Today's strong stateside economic data boosted black gold, easing demand fears as the Group of Seven (G7) looked to cap Russian oil prices. As a result,  August-dated crude added $1.95, or 1.8%, to settle at $109.57 per barrel.

Meanwhile, gold prices finished lower, as investors monitored the potential for additional restrictions on oil from Russia. In turn, August-dated gold fell $5.50, or 0.3%, to close at $1,824.80 an ounce.