The Globe and Mail reports in its Tuesday edition that North American stock markets ended lower on Monday, interrupting last week's rally, as investors turned cautious ahead of U.S. employment data due this week that could alter expectations that the Federal Reserve will cut interest rates early next year. A Reuters dispatch to The Globe says that megacaps Microsoft, Apple, Nvidia and Amazon all dipped over 1 per cent, pressured by higher U.S. Treasury yields. The S&P 500 registered its highest close of the year on Friday as remarks from Fed chair Jerome Powell acknowledged the central bank's need to "move forward carefully" amid signs of economic softening. Small-cap stocks rose on Monday, with the Russell 2000 rallying about 1 per cent and bringing its gain this year to almost 7 per cent. The Toronto Stock Exchange's S&P/TSX Composite Index ended down 42.66 points at 20,410.21, after posting on Friday its highest closing level in 2-1/2 months. The energy sector fell 1.6 per cent as the price of oil settled 1.4 per cent lower at $73.04 (U.S.) a barrel, with traders taking a wait-and-see attitude about plans by OPEC+ to cut production in the first quarter. Gold was down 2.1 per cent at $2,028 an ounce.