MARKET SNAPSHOT: Stocks Muster Modest Rise As Tech Climbs
July 26 2016 - 10:26AM
Dow Jones News
By Ellie Ismailidou and Sara Sjolin, MarketWatch
Shares of McDonald's tumbles after weak earnings; Dollar slumps
against yen
U.S. stocks moved modestly higher on Tuesday, after opening
mostly flat, boosted by an advance in technology shares.
Investors seemed to shrug off positive news from the housing
market, where Case-Shiller home-price index rose 0.9% in May.
Instead, investors were bracing for a deluge of earnings, including
updates from Twitter Inc. and Apple Inc., due after the closing
bell.
Shares of McDonald's Corp(MCD) slumped after the world's largest
fast-food restaurant chain missed earnings expectations
(http://www.marketwatch.com/story/mcdonalds-shares-fall-after-revenue-same-store-sales-miss-expectations-2016-07-26),
while lower oil prices continued to weigh on energy stocks.
The S&P 500 index gained 4 points, or 0.2%, at 2,172, led by
a 0.6% gain in technology stocks. Four of the index's 10 sectors
were in negative territory, with telecom stocks leading the losses,
down 0.8%.
The Dow Jones Industrial Average added 18 points, 0.1% to
18,511. A 2.3% jump in United Technologies Corp.(UTX) and a 1.6%
climb in Caterpillar Inc.(CAT) helping to offset McDonald's
decline, which was shaving more than 30 points from the blue-chips
gauge.
The advance in tech helped the Nasdaq Composite Index was add 20
points, or 0.4%.
(END) Dow Jones Newswires
July 26, 2016 10:11 ET (14:11 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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