S&P 500 at Record-High Close on M&A Activity, Nasdaq Ends Lower




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Summary: No big moves on Wall Street but the S&P 500 still managed to close at a record high Monday. The Dow Jones Industrial managed squeeze out a small gain. The Nasdaq, however closed in negative territory. Crude oil fell again. December delivery is down $0.29 a barrel. Dropping oil prices didn't stop Baker Hughes (BHI) from closing up almost 9%. Shares rose after rival Halliburton (HAL) agreed to buy it, becoming the biggest oilfield services company in the world. Deals news pushed Allergan (AGN) up more than 5% and Actavis (ACT) also gained after saying it would buy the Botox-maker. LinkedIn (LNKD) and Salesforce (CRM) both lost ground on reports Facebook (FB) is creating a professional networking site. Facebook closed less than 1% lower after rallying earlier in the day. Some names reporting earnings results Tuesday include Home Depot (HD), the parent company of TJ Maxx (TJX) and PetSmart (PETM).