Business News

US Stocks Logged their First Positive Week in 2016

U.S. stocks logged their first positive week of 2016 last week. But the S&P 500 and Nasdaq are still in correction territory ahead of today's trading. (CNBC)

McDonald's fourth-quarter results are out reporting profits of $1.31 per share on revenues of $6.34 billion.
Global same-store rose 5%. In the US, they jumped 5.7% thanks to all-day breakfast. The company's shares have rallied 32% over the past year. (Business Insider)

Businesses were more likely to boost pay in the fourth quarter and confidence in U.S. growth continued, even as sales and profit growth flattened according to a survey by the National Association for Business Economics. 49% of firms reported raising wages in the quarter. Nearly half of businesses expect sales to rise. 19% of firms expect margins will drop in the current quarter, the highest since July 2014.

Ford is exiting all its operations in Japan and Indonesia this year, because the automaker sees "no reasonable path to profitability" in those countries. (Reuters)

The S&P 500 is down 8 and the NASDAQ is down 16. The MSCI international index is down 0.77%.

Oil is down $1.05 at $31.14 a barrel. Oil prices spiked 7% on Friday. That represented a dramatic rebound from last Wednesday, when crude crashed to as low as $26.19 a barrel, the weakest level since April 2003. That's a 21% jump in just two days. (CNN)

Gold is up $8 at $1104 a Troy ounce.

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