Friday, Jul 01, 2016
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Stock Market

Stocks edge higher; Dow boosted by McDonald's

Stocks inch up; McDonald's sales offset concerns over Italy's political disarray

NEW YORK — Stocks closed with modest gains today after a strong sales report from McDonald's offset concerns about the surprise resignation of Italy's prime minister.

The Dow Jones industrial average rose 15 points to end at 13,170. The index traded within a narrow range of just 56 points.

The Standard and Poor's 500 was up less than a point at 1,419. The Nasdaq composite rose nine points to 2,987.

McDonald's rose 93 cents to $89.41. The company's sales rose in November as U.S. customers bought more breakfast offerings and limited-time Cheddar Bacon Onion sandwiches.

Italian Prime Minister Mario Monti stepped down after losing support from a key political party.

Rising stocks narrowly outnumbered falling ones on the New York Stock Exchange. Volume was lighter than average at 2.9 billion shares.

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