The S&P 500 and Nasdaq turned negative in early trading on Monday, as weakness in financial shares overshadowed strong results from Caterpillar and a flurry of merger and acquisition activity.

The Dow Jones industrial average <.DJI> was up 32.49 points, or 0.29 percent, at 11,236.77. The Standard & Poor's 500 Index <.SPX> was down 1.07 points, or 0.09 percent, at 1,216.21. The Nasdaq Composite Index <.IXIC> fell 3.40 points, or 0.13 percent, at 2,526.75.

(Reporting by Angela Moon; editing by Jeffrey Benkoe)