US stocks mixed after McDonald's rough quarter

AP News
Posted: Jul 22, 2013 9:43 AM
US stocks mixed after McDonald's rough quarter

NEW YORK (AP) — The stock market is opening mixed after McDonald's reported poor quarterly earnings.

A big week for corporate results began Monday with Hasbro, in addition to McDonald's, falling short of Wall Street's expectations. Netflix will post earnings after the market closes.

The Dow Jones industrial average was down 13 points to 15,530 shortly after trading began. The Standard & Poor's 500 index rose a point to 1,693. The Nasdaq composite was up nine points to 3,597.

McDonald's says economic uncertainty for its customers weighed on results and it warned of a tough year ahead. The company's stock price fell 3 percent just after the market opened.

The National Association of Realtors is expected to report Monday morning that the annual sales rate of previously occupied homes rose last month.