MARKET SNAPSHOT: U.S. Stocks Open Lower; Deals In Focus

By Anora Mahmudova and Barbara Kollmeyer, MarketWatch

NEW YORK (MarketWatch) -- The U.S. stock market opened lower on Monday as recent peaks on the main benchmark and a lack of economic data contributed to cautiousness among global stock investors.

Monday lived up to its Merger Monday title with a few deals were grabbing attention. On the economic news front, consumer-credit data for July is due at 3 p.m. Eastern Time, but otherwise the data calendar remains largely quiet until Friday's report on retail sales.

The S&P 500 (SPX) opened 3 points, or 0.1%, lower at 2,005. The Dow Jones Industrial Average (DJI) dropped 19 points, or 0.1%, to 17,117. The Nasdaq Composite (RIXF) began the day up 1 point at 4,584.13.

"U.S. indexes have seen rises over the past 5 weeks -- now having digested news that recent China trade data is weak, and that Japanese GDP (gross domestic product) has shrunk at its fastest pace in over 5 years -- the reality is that global economies aren't where they should be," said Brenda Kelly, chief strategist at IG, in emailed comments.

Investors shrugged off Friday's weaker-than-expected U.S. jobs report, and the S&P 500 index (SPX) and Dow industrials (DJU4) logged fifth-straight weekly gains. Also read: Stock-picking gains traction as volatility looms

Stocks to watch: Multimedia Games (MGAM) shares surged 29% after the electronic gaming company announced a $1.2 billion deal to be acquired by Global Cash Access Holdings Inc.(GCA).

Meanwhile, GE (GE) is selling its appliances unit for $3.3 billion to Sweden's Electrolux. GE has been trying to exit its century-old appliance business for several years. GE shares were little changed, while Electrolux shares jumped 8%, making it the biggest mover for the Stoxx Europe 600 .

Yahoo! Inc. (YHOO) shares were up 2% as China's largest e-commerce Alibaba Group said it would seek $66 per share, hoping to raise $24.3 billion in an IPO. Yahoo own 24% of Alibaba.

Campbell Soup Co. (CPB) shares fell 3.2% after the maker of soups posted a disappointing profit outlook. Also read: See the day's notable stock moves

Pound, oil on the wane: The London FTSE 100 index slid 1%, dragging Europe stocks lower after a weekend poll showed pro-Scottish independence voters in the lead ahead of a referendum Sept. 18. The pound(GBPUSD) sank over 1% against the dollar to around nine-month lows.

China reported a surprise fall in imports and a widening trade deficit, and Hong Kong shares slipped.

Brent crude for October fell below $100 a barrel on the weak China trade data.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires