Stocks edge higher; Dow is boosted by McDonald's

AP News
Posted: Dec 10, 2012 11:51 AM

NEW YORK (AP) — Stocks are inching higher on Wall Street after a strong sales report from McDonald's offset concerns about the sudden resignation of Italy's prime minister.

The Dow Jones industrial average was up 30 points at 13,172 shortly before midday Monday. The Standard and Poor's 500 was up two points at 1,420. The Nasdaq composite was up 15 points at 2,993.

McDonald's rose 1 percent to $89.67. A key sales figure rose in November as U.S. customers bought more breakfast offerings and limited-time Cheddar Bacon Onion sandwiches.

Italy's Mario Monti, who has been credited with restoring confidence in Italy's economy, said he would step down after former Prime Minister Silvio Berlusconi's party dropped its support of his government.

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Italian government bond yields rose sharply and Milan's benchmark stock index fell.