US stock indices closed slightly lower on Monday as markets assessed the outlook for interest rates this year. The S&P 500 lost 0.1%, the Nasdaq retreated 0.3%, and the Dow shed 61 points. A rally in oil prices pushed bond yields higher on concerns over energy-driven inflation, just days ahead of the CPI report. Higher energy costs raised fears that the Federal Reserve may need to raise rates this year despite a cooling labor market. Credit-sensitive stocks were mixed, with financials mostly lower. Visa shed 0.3%, Amex lost 0.6%, and Morgan Stanley fell 0.5%. Chipmakers tumbled, with Nvidia down 2.9% amid reports that Wall Street giants are working with the company on a $500 billion AI funding package. Intel fell 4.1% as it prepares to offer $15 billion in stock. Apple also declined 1.5% after Jefferies downgraded the stock to underperform. Meanwhile, hyperscalers mostly gained after brokers signaled strong demand for cloud services, with Microsoft up 1.2% and SpaceX advancing 4.2%.