U.S. Stocks Fall Despite Oil Gains; Apple iPhone Demand Is ‘Soft’

U.S. stocks kicked off Monday’s session slightly to the downside, despite a rise in oil prices. This comes after three straight weeks of gains for U.S. equities. Last week, oil prices rose after the oil rig count in the U.S. fell for the 11th straight week. Investors were also anxiously awaiting Thursday's critical meeting from the European Central Bank. 'The question mark is what are they going to do in terms of raising the amount of quantitative easing that they're doing on a monthly basis?,’ asked Josh Mahony, a market analyst at IG, based in London. Meanwhile, Valeant Pharmaceuticals (VRX) shares are on the rise, after the company said it will release fourth quarter earnings on March 15. The company was originally supposed to report on February 29, but postponed the results as its CEO returned from medical leave. Finally, Apple (AAPL) shares were in focus as the analysts at Pacific Crest cut the tech giant's price target to $127 a share from $132, saying iPhone demand is soft. TheStreet’s Scott Gamm reports from Wall Street.