It was a mixed bag of economic news today as McDonald’s Corp (NYSE: MCD) announced a 7 percent increase in global sales in company restaurants that had been open for at least 13 months. Analysts expected growth of 5 percent, so this cheered investors and McDonald’s stock rose 1.78 percent.
Chrysler did not fare as well, announcing a quarterly net loss but a 28 percent increase in operating profit in quarter 2. A company spokesperson announced that Chrysler could raise its financial outlook later in the year.
Of course, good news from MCD and mixed news from Chrysler wasn’t enough to put U.S. markets on a positive track. Investors cheered by the thought of the Federal Reserve possibly announcing further action to boost the economy as a result of the disappointing unemployment numbers released on Friday, raised the Dow Jones Industrial Average 45.19 points today to 10,698.75. The Nasdaq rose 17.22 points to 2,305.69 while the S&P 500 was up 6.15 points to 1,127.79. The Federal Reserve meets tomorrow,
European markets were up on Monday while Asian markets were mixed, possibly the result of unease surrounding Chinese bank stress tests that have yet to be conducted.
