Market Overview

Mid-Morning Market Update: Markets Edge Higher, McDonald's May Comparable Sales Rise 2.6%

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Following the market opening Monday, the Dow traded up 0.03 percent to 15,253.02 while the NASDAQ gained 0.03 percent to 3,470.32. The S&P also rose, surging 0.01 percent to 1,643.54.

Top Headline
McDonald's (NYSE: MCD) reported a 2.6% rise in its global comparable sales in May.

McDonald's systemwide sales jumped 3.6% in May; while US sales climbed 2.4%. Its global comparable sales declined 1.0% during the first quarter.

Equities Trading UP
IHS (NYSE: IHS) shot up 2.44 percent to $109.55 after the company agreed to buy R.L. Polk & Co for $1.4 billion.

Shares of Monsanto Company (NYSE: MON) got a boost, shooting up 4.63 percent to $106.36 after Macquarie upgraded the stock from “neutral” to “outperform.”

First Bancorp (NYSE: FBP) was also up, gaining 1.58 percent to $6.44 after Sterne Agee upgraded the stock from “neutral” to “buy.”

Equities Trading DOWN
Rovi (NASDAQ: ROVI) was down, falling 7.66 percent to $24.48 after the company reported it is working with Broadcom (NASDAQ: BRCM) to enable HEVC playback across multiple screens.

Shares of Titan International (NYSE: TWI) were down 7.68 percent to $19.12 after William Blair downgraded the stock to “market perform.”

Morgan Stanley (NYSE: MS) shares tumbled 1.31 percent to $26.65 after Oppenheimer downgraded the stock from “outperform” to “perform.”

Commodities
In commodity news, oil traded up 0.91 percent to $95.62, while gold traded down 2.47 percent to $1,380.80.

Silver traded down 4.19 percent Monday to $21.76, while copper fell 2.82 percent to $3.23.

Eurozone
European shares were mostly higher today. The Spanish Ibex Index fell 0.25 percent and the Italian FTSE MIB Index dropped 0.65 percent. Meanwhile, the German DAX climbed 0.84 percent and the French CAC 40 rose 0.29 percent while U.K. shares gained 1.05 percent.

Economics
The Investor Movement Index for May will be released at 12:30 p.m. ET.

The Treasury will hold its weekly 3- and 6-month bill auctions.

Posted-In: Earnings News Guidance Commodities Global Econ #s Economics Hot

 

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