McDonald's Miss Weighs on Futures

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U.S. stock-index futures drifted lower on Monday as traders parsed through a steady stream of earnings reports and awaited data on the housing market.

Today's Markets 

As of 8:13 a.m. ET, Dow Jones Industrial Average futures fell 18 points to 15488, S&P 500 futures dipped 0.5 point to 1689 and Nasdaq 100 futures rose 2 points to 3043.

The broad S&P 500 closed out last week at a record high as traders responded to upbeat earnings, encouraging data and dovish Federal Reserve commentary. Earnings season revs up into high gear this week, with two-thirds of S&P components due to report. 

McDonald's (MCD) revealed second-quarter profits and revenues that missed analysts expectations, sending shares of the world's biggest burger chain sliding. UBS (UBS) surprised analysts with stronger-than-expected profits, even as the Swiss bank was hit with a big charge for legal settlements. Halliburton (HAL), the oilfield-servicing giant, also revealed better-than-expected quarterly results. 

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Texas Instruments (TXN) and Netflix (NFLX) post after the closing bell in New York. 

On the economic front, the National Association of Realtors is set to release its reading on existing home sales at 10:00 a.m. ET. Sales of existing, single-family homes are forecast to have climbed in June to an annual rate of 5.25 million units from 5.18 million in May. 

Elsewhere, gold prices rallied. The benchmark contract jumped $24.10, or 1.9%, to $1,318 a troy ounce. U.S. oil gained 42 cents, or 0.39%, to $108.45 a barrel. Wholesale New York Harbor gasoline dipped 0.42% to $3.11 a gallon. 

Foreign Markets

The Euro Stoxx 50 rose 0.29% to 2724, the English FTSE 100 dipped 0.06% to 6631 and the German DAX climbed 0.05% to 8336.

In Asia, the Japanese Nikkei 225 gained 0.47% to 14658 and the Chinese Hang Seng edged up by 0.08% to 21362.

 

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