The Globe and Mail reports in its Tuesday, Dec. 2, edition that Canada's main stock index declined on Monday as technology shares fell and investors prepared for the start of bank earnings season. The Globe's unbylined reports that the S&P/TSX Composite Index ended down 281 points, or 0.9 per cent at 31,101.78, after posting a record closing high on Friday. In November, the index advanced 3.7 per cent as rising expectations that the Federal Reserve would cut interest rates further boosted base and precious metal prices. "Investors return from the U.S. holiday weekend and enter December in a cautious mood," says SIA Wealth Management's Colin Cieszynski. Financials were also a drag, losing 1 per cent. Analysts are expecting Canadian banks to report strong fourth quarter results this week, although lofty valuations will be tested. "In addition to the results, investors may look for commentary on the state of the Canadian economy, the direction of loan loss provisions, and potential dividend increases." U.S. stocks also lost ground on Monday as long-term borrowing costs climbed and investors looked toward the Federal Reserve's policy announcement next week.