Updated from 7:53 a.m. EDT

The U.S. stock market may be in for a sluggish open Monday as traders in New York returned from a long holiday weekend.

Futures on the S&P 500 were down 2 points at 1263 and were about a point under fair value, while Nasdaq 100 futures were up 4 points at 1826, almost 2 points ahead of fair value.

Domestic shares haven't traded since last Thursday, and that was a half session. The market was closed Friday for the Independence Day holiday.

As the new week got underway, investors were greeted with a host of merger news, but thus far the dealmaking wasn't inspiring much buying interest.

The biggest transaction will see Germany's Fresenius, a seller of intravenous drugs, buy APP Pharmaceuticals ( APPX) for roughly $3.7 billion.

Also, China Oilfield Services, a unit of CNOOC ( CEO), is set to pay $2.5 billion for Norway's Awilco Offshore.

Back in the U.S., the directors of Anheuser-Busch ( BUD) could be in for a fight to keep their jobs after Belgium's InBev, which is trying to take over the Budweiser maker for $46 billion, said it would try to replace the board.

On the friendlier side, GE's ( GE) NBC Universal division is being joined by Blackstone ( BX) and Bain Capital to purchase The Weather Channel. Terms of the acquisition weren't released, but reports put the value at around $3.5 billion.

Elsewhere, General Motors ( GM), whose shares have been trading at multidecade lows amid worries about its financial health, may be close to firing thousands of white-collar workers, according to a published report. The Wall Street Journal also said GM might part ways with or end additional brands.

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