NEW YORK (AP) — The latest on developments in financial markets (All times local):
Losses for industrial companies are pulling U.S. stocks lower at the start of trading, but high-yield stocks are making small gains.
Boeing slid 0.7 percent and General Electric lost 0.9 percent Monday morning. Investors didn't appear troubled by the federal government shutdown.
Corporations announced a series of deals to start the weak. French drugmaker Sanofi said it will buy hemophilia treatment companies Bioverativ for $11.6 billion. Bioverativ climbed 62.5 percent.
Biotech drugmaker Celgene said it will pay $9 billion for cancer therapy maker Juno Therapeutics, and Juno jumped 26.9 percent.
The Standard & Poor's 500 index was unchanged at 2,809 after it finished at a record high Friday.
The Dow Jones industrial average fell 54 points, or 0.2 percent, to 26,016. The Nasdaq composite rose 2 points to 7,339.