McDonalds’ Leads Losses In The Dow – Earnings Reports Awaited
U.S equities fell for the fourth time in the last five trading days, dragged down by declines in energy stocks. U.S benchmarks including the Dow Jones industrial average traded lower on Monday as investors continued to digest the rise in U.S oil drilling rigs and reports confirming OPEC’s record-high output in September.
The Dow Jones index fell 0.32% so far to 18,080.00, with declining issues outnumbering advancing issues by 23 to 7.
McDonald’s led losers as the fast food giant bids farewell to two more longtime executives who are set to depart at the end of the year. The departures of Chief Field Officer Karen King and Senior Vice President of Customer Experience Erik Hess are the latest in a string of executive exits from McDonald’s, which includes the retirement of domestic President Mike Andres and Chief Administrative Officer Pete Bensen.
11 of the Dow Jones’ constituent companies are slated to announce their quarterly earnings over the coming week, with IBM scheduled to report its results after the closing bell on Monday.