Stocks Open Mixed, McDonald Miss Expectations

U.S. stocks opened mixed on Monday as Wall Street considered earnings and Tuesday’s delayed release
of the nonfarm payrolls report for September. The Dow Jones Industrial Average lately fell 22.491 points, or 0.15%, to 15,377.16. The S&P 500 index was off 0.73 point, or 0.04%, at 1,743.77. The Nasdaq Composite added 5.69 points, or 0.15%, to 3,919.97.

McDonald’s Corp reported a 4.1 percent rise in quarterly profit, while global sales at established
restaurants marginally missed analysts’ expectations. Net income rose to $1.52 billion, or $1.52 per share,
for the third quarter ended September 30, from $1.46 billion, or $1.43 per share, a year earlier. Revenue
rose 2.4 percent to $7.32 billion.

U.S. Steel Corp.(X) said Friday it expects to record a $1.8 billion writedown for its North American flat-
rolled and Texas operations in the third quarter.

Despite a prolonged slide in domestic sugar prices, U.S. candy makers are expanding production in other
countries as federal price supports and a global glut of the sweet stuff give an ever-greater advantage to
foreign rivals.