US stocks little changed, S&P 500 retreats

New York - The S&P 500 edged lower on Monday, retreating from record peaks despite news that Endo International would buy Par Pharmaceutical Holdings in the latest pharmaceutical merger.

Five minutes into trade, the broad-based S&P 500 was at 2 121.61, down 1.12 points (0.05%). The index closed at records on Thursday and Friday.

The Dow Jones Industrial Average added 1.30 (0.01%) at 18 273.86, while the tech-rich Nasdaq Composite Index dipped 7.72 (0.15%) to 5 040.57.

Endo International announced a $8.05bn acquisition deal for privately held US firm Par to strengthen its generic drugs business.

The deal is expected to generate $175m in savings within 12 months after the transaction is completed. Endo shares fell 2.1%.

The calendar has no major economic reports Monday, but the schedule this week includes minutes from the Federal Reserve's April monetary policy meeting and earnings from Wal-Mart Stores.