NEW YORK (TheStreet) -- Markets were set to step back from their recent record run on Monday after the S&P 500 nudged to a new high to close out last week.
S&P 500 futures fell 0.2%, Dow Jones Industrial Average futures slipped 0.12%, and Nasdaq futures slid 0.29%.
Crude oil prices surged above $60 a barrel on news of further fighting in the Middle East, including Iraqi city Ramadi being captured by ISIS and continued airstrikes in Yemen. Investors hope potentially restricted supply in oil-rich Middle Eastern countries will help to rebalance global supply and demand. West Texas Intermediate crude added 1.2% to $60.42 a barrel.
Endo Pharmaceutical (ENDP - Get Report) shares rose 1.2% after the company agreed to buy privately-held Par Pharmaceutical Holdings for $8.05 billion in cash and stock. The deal would create one of the five largest generic drug makers in the U.S.
Ann Inc (ANN) rocketed more than 22% higher in premarket trading after being acquired by Ascena Retail Group (ASNA) for $47 a share. The deal values Ann at around $2 billion.
Eleven Bio (EBIO) plummeted more than 70% after a Phase 3 trial for dry eye disease failed to achieve its co-primary endpoints. Given the results, Eleven Bio will not proceed with a second Phase 3 trial.
Apple (AAPL - Get Report) shares were on watch after the world's largest company bought high-precision GPS service firm Coherent Navigation for an undisclosed amount. The purchase will work toward improving Apple Maps.
