The market ended mixed last week as the bulls extended the Dow’s 8-week winning streak while the bears were able to take a bite out of the S&P 500 and Nasdaq. Earnings season is in full swing and over the next two weeks the market will hear from a number of high-profile companies.
McDonald’s (MCD, $75.01, down $0.15) got the ball rolling this morning, reporting a profit of $1.24 billion, or $1.16 a share, versus $1.22 billion, or $1.11 a share, in the year-earlier period.
Revenue came in at $6.2 billion as sales in U.S. stores opened at least a year increased 4.4%. Worldwide, sales rose 5% on strength in Asia but shares are slightly lower in pre-market action, down 72 cents, to $74.29. The company met expectations but it appears investors wanted more.
Futures are slightly up as we head to press: (Dow +10), S&P 500 (+2), Nasdaq 100 (+2). We have a lot to cover in our Members Area this morning so let’s get on it. Subscribers, check for the updates.