Midday Report: Caterpillar Gets Goldman Nod; Stocks, Oil Slide

U.S. stocks extended losses by the middle of the session on Monday as crude oil returned to negative territory. Crude for June delivery was trading around the $43 mark after a massive rally last week that pushed it more than eight percent higher. The number of new homes sold in March in the U.S. fell, though remained above 500,000 for its fourth straight month in a row. That's its best winning streak since the beginning of 2008. February's pace was upwardly revised. Xerox (XRX) - Get Report fell as restructuring costs related to its planned split reduced profit from a year earlier. On an adjusted basis, earnings of $0.22 cents a share missed expectations by a penny. Revenue fell four percent. Caterpillar (CAT) - Get Report was upgraded to neutral from sell at Goldman Sachs. Analysts said the company is leveraged to higher construction demand in China. TheStreet's Keris Lahiff reports from Wall Street.