Stocks Closed Slightly Lower in Low volume

U.S. stock closed slightly lower in a quiet trading day on Monday after a week of strong gains, while a big healthcare deal failed to impress investors. The Dow Jones industrial average fell 31.13 points, or 0.17%, to 17,792.81, the S&P 500 lost 2.58 points, or 0.12%, to 2,086.59. The Nasdaq Composite dropped 2.44 points, or 0.05%, to 5,102.48.

Pfizer Inc (PFE.N) on Monday said it would buy Botox maker Allergan Plc (AGN.N) in a record-breaking deal worth $160 billion, designed to cut the company’s U.S. tax bill by moving its headquarters to Ireland.

A reading of manufacturing sentiment fell in November to its lowest level in 25 months, according to data released Monday. The flash manufacturing purchasing managers index from Markit fell to a reading of 52.6 from 54.1 in October, with all five of the PMI components deteriorating.

Investors will see how Tiffany & Co. (TIF) is handling the current challenging environment when it reports Q3 results on Tuesday before the bell.After a rough second quarter, another lackluster earnings report is expected for Q3. Even so, the analyst is still favorable on Tiffany for the longer term.

The steps needed to fix about 8.5 million Volkswagen (VOWG_p.DE) cars in Europe fitted with illegal emissions- control software are technically and financially manageable, the German automaker’s chief executive said on Monday.