Wall Street declines as oil prices drop; Fed in focus

Wall Street was lower on Monday as oil prices fell and investors remained cautious ahead of Federal Reserve Chair Janet Yellen's speech this week. With the earnings season coming to an end, investor focus will shift to Yellen's speech on Friday at the annual central bankers' meeting in Jackson Hole, Wyoming to see whether the Fed is keen on raising interest rates in the coming months. The case for an imminent rate hike was strengthened by Fed Vice Chairman Stanley Fischer's comments that the U.S