Investing.com -- Stocks on the U.S. equities markets fell slightly on Monday, ahead of a highly-anticipated release of quarterly earnings from Apple Inc. (NASDAQ:AAPL) after the bell.
A late sell-off in afternoon trading reversed earlier gains, as the Dow Jones Industrial Average saw its three-day rally screech to a halt. Heavy losses among biotech and healthcare stocks also offset mild gains in basic materials, as the NASDAQ Composite index and the S&P 500 Composite index both moved away from near-record gains.
The Dow fell 39 points or 0.22% to 18,041.14 on Monday, while the NASDAQ dropped 31.84 or 0.63% to 5,060.25. Earlier on Monday, the NASDAQ rose to 5,119.83, its highest level since it hit a record of 5,132.52 in March, 2000.
The S&P 500, meanwhile, reached an intra-day high of 2,125.92, before falling back to 2,109.39, down 8.30 or 0.39%. Stocks in the health care sector plunged more than 2%, as investors digested Mylan (NASDAQ:MYL)'s rejection of an acquisition bid by Tel Aviv-based Teva Pharma Industries Ltd (ARCA:TEVA). Utilities also fell by more than 1% on a down day for the S&P, as eight of the 10 sectors closed in the red. Only basic materials and technology stocks closed higher.
Investors will keep a close eye on the number of iPhones shipped during the quarter and Apple's gross margin ratio, when the world's largest company in market capitalization releases its first quarter earnings report following the market's close. On Monday, Apple gained 2.07 or 1.59% to close at 132.35.
The top performer on the Dow was EI du Pont de Nemours and Company (NYSE:DD), which rose 3.18 or 4.45% to 74.70 after Institutional Shareholders Services Inc. recommended a shake-up to the chemical giant's board of directors. The worst performer was McDonald`s Corporation (NYSE:MCD), which fell 2.34 or 2.37% to 96.40.
The biggest gainer on the NASDAQ was Tesla Motors Inc. (NASDAQ:TSLA) which gained 12.67 or 5.80% to 231.09, amid speculation that it could lease its $13,000 home battery rather than selling it. Later this week, Tesla is expected to launch a stationary storage unit that will allow users to store 10 to 15 kilowatt hours of energy. The worst performer was Applied Materials Inc (NASDAQ:AMAT), which fell 1.81 or 8.28% to 20.00, after it dropped its bid to acquire Tokyo Electronics. Applied Materials finished just below Mylan, which lost 4.37 or 5.75% to 71.69.
The top performer on the S&P 500 was Freeport-McMoran Copper & Gold Inc (NYSE:FCX), which gained 1.00 or 4.80% to 21.82, as gold futures shot up by more than $25 on the session. Applied Materials and Tesla were also the worst performers on the S&P, just below Edwards Lifesciences Corporation (NYSE:EW), which fell 7.36 or 5.32% to 130.97.