Investing.com - Stocks in New York were little changed at the open as investors waited for any signs of progress in trade talks between the U.S. and China.
The S&P 500 fell 0.04%, while the Dow lost 0.23%. The tech-heavy Nasdaq Composite rose 0.2%.
The Institute of Supply Management’s services index could help the market find some direction when it’s released at 10 AM ET (15:00 GMT). Economists are expecting a slight decline.
A large drop in the ISM manufacturing index last week raised concerns about a slowdown.
The U.S. and China kicked off talks in Beijing on Monday. It’s the first face-to-face meeting since U.S. President Donald Trump and China's President Xi Jinping in December agreed to a 90-day truce in the trade war to help strike a deal.
After ominous signs the trade war was taking a toll on U.S. growth, including Apple's (NASDAQ:AAPL) sales warning and the weak ISM, investors are worried that corporate profits could take a bigger hit than anticipated.
Among active stocks, General Electric (NYSE:GE) rose 2.4% on a report its aircraft leasing unit could be a target for private equity firm Apollo Global Management.
Loxo Oncology (NASDAQ:LOXO) soared 66% on news Eli Lilly (NYSE:LLY) will buy the company for about $8 billion. Lilly fell about 1%.
And Pacific Gas & Electric (NYSE:PCG) plunged 26% following a report from Reuters after the bell Friday that the utility could be weighing bankruptcy in the wake of the California wildfires.
-- Reuters contributed to this report.