U.S. stocks fell at the open on Monday (January 7) as markets consolidated after the S&P 500 closed Friday at a five-year high and before this week's start of earnings season.

Last week was the best for U.S. stocks in more than a year as a budget deal and economic data boosted investor confidence.

The Dow Jones industrial average shed 13.37 points, or 0.10 percent, at 13,421.84. The Standard & Poor's 500 Index fell 3.77 points, or 0.26 percent, at 1,462.70. The Nasdaq Composite Index lost 12.13 points, or 0.39 percent, at 3,089.53.