US STOCKS-S&P 500 ends at record high; mergers offset Japan recession
* Baker Hughes rallies, Halliburton tumbles after deal
* Indexes: Dow up 0.1 pct; S&P 500 up 0.1 pct; Nasdaq down 0.4 pct (Updates to close)
By Caroline Valetkevitch
NEW YORK, Nov 17 (Reuters) - The S&P 500 edged up to close at a record high on Monday as deal activity worth $100 billion offset concerns about overseas growth after Japan's economy slipped into recession.
Shares of Baker Hughes, up 8.9 percent, and Allergan , up 5.3 percent, gave the S&P 500 its biggest boost after Halliburton said it would buy Baker Hughes and Allergan agreed to be bought by Actavis.
The Nasdaq closed lower, weighed down by Google, which fell 1.5 percent to $546.64, and Gilead, down 1.6 percent at $100.44.
"It shows the strength of the overall market that you could have this recession news out of Japan, and yet have the market inch upwards," said Eric Kuby, chief investment officer at North Star Investment Management Corp in Chicago.
But he said the outperformance of larger-cap names compared with smaller caps shows investors still are gravitating toward the more liquid investments.
The Dow Jones industrial average rose 13.01 points, or 0.07 percent, to 17,647.75, the S&P 500 gained 1.5 points, or 0.07 percent, to 2,041.32, a record closing high. Continuación...