Stocks ease, bringing S&P 500 back below record high

By The Associated Press | Posted - May 18, 2015 at 7:40 a.m.



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NEW YORK (AP) — U.S. stocks indexes are edging lower in early trading as the market comes off its latest record high.

Several stocks are moving on news of acquisitions early Monday.

Ann Inc., the parent company of Ann Taylor and Loft, jumped 21 percent after it agreed to be acquired by The Ascena Retail Group. Ascena's stock rose 8 percent.

Endo International fell 3 percent after it agreed to buy privately held Par Pharmaceutical for $8 billion.

The Dow Jones industrial average fell two points at 18,270 as of 9:35 a.m. Eastern time Monday.

The Standard & Poor's 500 lost a point to 2,121 and the Nasdaq composite declined six points, or 0.1 percent, to 5,041.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.19 percent.

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The Associated Press

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