US stocks end lower as health care companies drag down shares and investors await earnings



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Trader John O'Hara wears an Ironman mask as he works on the floor of the New York Stock Exchange, Monday, April 27, 2015, in New York. Actors Jeremy Renner and Robert Downey Jr. rang the NYSE opening bell Monday with representatives from Marvel Entertainment. (AP Photo/Jason DeCrow)


A trader wearing an Avengers t-shirt works on the floor of the New York Stock Exchange, Monday, April 27, 2015, in New York. Actors Jeremy Renner and Robert Downey Jr. rang the NYSE opening bell Monday with representatives from Marvel Entertainment. (AP Photo/Jason DeCrow)


NEW YORK — U.S. stocks are closing lower as health care companies weigh on the market and investors await a flood of earnings reports.

Stocks appeared headed for new highs in the morning Monday, but then drifted lower, led by declines in health care.

Mylan, a maker of generic drugs, slumped nearly 6 percent, after rejecting a $40 billion buyout offer from Teva Pharmaceuticals.

The Dow Jones industrial average fell 42 points to close at 18,037. The Standard & Poor's 500 index fell eight points to 2,108. The Nasdaq fell 31 points to 5,060.

Apple reports quarterly earnings late Monday, and is one of more than 150 companies in the S&P 500 that will turn in results this week. Investors will also follow a two-day meeting at the Federal Reserve that starts Tuesday.

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