Markets Post Gains after McDonald’s Quarterly Report Shows We’re Not Lovin’ It
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McDonald’s(NEW YORK) — Wall Street posted gains on Wednesday, with all three major indices hopping back over milestones.
The Dow Jones Industrial Average climbed back above 18,000, gaining 88.68 to 18,038.27.
The Nasdaq gained 21.07, jumping over the 5,000 mark to 5,035.17, while the S&P ended the session at 2,107.96, posting 10.67 in gains.
On Wednesday, two popular fast food brands released their quarterly earnings report, painting a picture of the possibly declining popularity of McDonald’s food. McDonald’s reported a global sales decrease of 2.3 percent, and an 11-percent drop in revenue.
Yum! Brands, however, which owns Taco Bell and KFC, among other fast food brands, reported four-percent increases in worldwide sales.
Facebook also reported its quarterly earnings on Wednesday, showing 42-percent increase in revenue — but it missed profit expectations due to an increase in spending.
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