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Sectors

Sector Update: Consumer Stocks Softer Thursday Afternoon

Consumer stocks fell Thursday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) each dropping 0.4%.In corporate news, Shake Shack (SHAK) shares slumped 29% after the company's Q1 results missed Wall Street estimates.Planet Fitness (PLNT) shares tumbled 32% after the company tempered its full-year outlook amid fewer-than-expected member additions in Q1.McDonald's (MCD) reported better-than-expected Q1 results as comparable sales rebounded more than market estimates despite what the company described as a "challenging" environment. The shares eased 0.3%.

$MCD$PLNT$SHAK
Wire

Wells Fargo Adjusts Price Target on McDonald's to $320 From $355

McDonald's (MCD) has an average rating of overweight and mean price target of $343.53, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $283.73, Change: $-0.37, Percent Change: -0.13%

$MCD
US Markets

Shake Shack Stock Plunges as Inclement Weather Hurts First-Quarter Performance

Shake Shack (SHAK) shares plummeted Thursday after the fast food chain operator's first-quarter results fell short of Wall Street's estimates amid weather-related headwinds.The company broke even in terms of non-GAAP earnings per share, compared with $0.14 adjusted EPS a year earlier and the FactSet-polled consensus that called for $0.12 in EPS. Revenue grew 14% to $366.7 million, while same-store sales rose 4.6%.Analysts expected revenue of $372.4 million and 4.7% in comparable sales growth in the quarter ended April 1.Inclement weather weighed down comparable sales by 240 basis points and impacted adjusted earnings before interest, taxes, depreciation and amortization in the first quarter, Chief Executive Rob Lynch said in a statement.The company's shares plunged about 30% intraday Thursday.Restaurant level margins slightly missed the company's own expectations amid higher operating expenses and "some mix impact" of marketing initiatives," the company said in a shareholder letter.For 2026, Shake Shack maintained its revenue guidance of $1.6 billion to $1.7 billion, continuing to expect same-store sales to grow by a low single-digit percentage. Analysts in a FactSet poll are projecting sales of $1.66 billion and same-store sales growth of 3%."Our sales momentum is building in (the second quarter) and that we are reiterating our 2026 guidance for same Shack sales restaurant level margins and our long-term financial targets," Lynch said on an earnings conference call, according to a FactSet transcript.Shake Shack appointed Michelle Hook as its chief financial officer, effective May 11. Hook previously served as CFO of Portillo's (PTLO).Katherine Fogertey stepped down as Shake Shack CFO in March.Fast-food giant McDonald's (MCD) logged first-quarter results above the Street's views on Thursday, a day after Burger King parent Restaurant Brands International (QSR) posted stronger-than-expected financials.Last week, Yum Brands (YUM) reported first-quarter comparable sales growth at KFC and Taco Bell.Price: $69.55, Change: $-26.97, Percent Change: -27.94%

$MCD$PTLO$QSR$SHAK$YUM
Wire

Top Midday Stories: Citi CEO Fraser Gives New ROTCE Targets; Datadog Shares Soar After Strong Earnings, Bullish Guidance

The Dow Jones Industrial Average was down, while the S&P 500 Index and the Nasdaq Composite were up in late-morning trading Thursday, as oil prices fell below $100 on hopes that the US and Iran are nearing an agreement to end their war.In company news, Citigroup (C) Chief Executive Jane Fraser said Thursday at the bank's Investor Day that Citi expects its return on tangible common equity to hit a range of 11% to 13% in 2027 and 2028, up from 10% to 11% currently, before rising further to 14% to 15% from 2029 to 2031, according to a slide deck the company published. Citigroup shares were up 2.1% around midday.Datadog (DDOG) reported Q1 non-GAAP net income Thursday of $0.60 per diluted share, up from $0.46 a year earlier and above the FactSet consensus of $0.51. First-quarter revenue was $1.01 billion, up from $761.6 million a year ago and above the FactSet consensus of $960.1 million. For Q2, the company said it expects non-GAAP EPS of $0.57 to $0.59 on revenue of $1.07 billion to $1.08 billion. Analysts polled by FactSet expect $0.50 and $994 million, respectively. For full-year 2026, Datadog said it expects non-GAAP EPS of $2.36 to $2.44 on revenue of $4.30 billion to $4.34 billion, up from the previous guidance ranges of $2.08 to $2.16, and $4.06 billion to $4.12 billion, respectively. Analysts polled by FactSet expect earnings of $2.16. Datadog shares were up 29.6%.McDonald's (MCD) reported Q1 adjusted earnings Thursday of $2.83 per diluted share, up from $2.67 a year earlier and above the FactSet consensus of $2.74. First-quarter revenue was $6.52 billion, up from $5.96 billion a year ago and above the FactSet consensus of $6.47 billion. McDonald's shares were down 0.4%.Zoetis (ZTS) reported Q1 adjusted earnings Thursday of $1.53 per diluted share, up from $1.41 a year earlier but below the FactSet consensus of $1.60. First-quarter revenue was $2.26 billion, up from $2.20 billion a year ago but below the FactSet consensus of $2.30 billion. For full-year 2026, the company said it expects adjusted EPS of $6.85 to $7.00, down from its previous guidance of $7.00 to $7.10 and below the FactSet consensus of $7.03. The company also lowered its full-year 2026 revenue guidance to $9.68 billion to $9.96 billion from $9.83 billion to $10.03 billion previously. Analysts polled by FactSet expect $9.89 billion. Zoetis shares were down 22%.Arm (ARM) reported fiscal Q4 adjusted earnings late Wednesday of $0.60 per diluted share, up from $0.55 a year earlier and above the FactSet consensus of $0.58. Fiscal Q4 revenue was $1.49 billion, up from $1.24 billion a year ago and above the FactSet consensus of $1.47 billion. For fiscal Q1, the company said it expects adjusted EPS of $0.40, plus or minus $0.04, on revenue of $1.26 billion, plus or minus $50 million. Analysts polled by FactSet expect $0.37 and $1.25 billion, respectively. Arm shares were down 8.4%.Whirlpool (WHR) reported a Q1 adjusted loss late Wednesday of $0.56 per diluted share, swinging from adjusted earnings of $1.70 a year earlier and compared with the FactSet consensus of earnings of $0.38. First-quarter revenue was $3.27 billion, down from $3.62 billion a year ago and below the FactSet consensus of $3.44 billion. For fiscal 2026, the company said it expects adjusted EPS of $3 to $3.50, down from its previous guidance of $7 and below the FactSet consensus of $4.83. Full-year revenue is expected to be about $15 billion, down from its prior guidance of $15.30 billion to $15.60 billion and below the FactSet consensus of $15.26 billion. The company said the war in Iran has triggered a "recession-level industry decline in the US." Whirlpool shares were down 12.3%.Shake Shack (SHAK) reported breakeven fiscal Q1 adjusted earnings Thursday, compared with $0.14 per diluted share a year earlier and below the FactSet consensus of $0.12. Fiscal Q1 revenue was $366.7 million, up from $320.9 million a year ago but below the FactSet consensus of $372.4 million. Shake Shack also said it has appointed Michelle Hook as chief financial officer, effective May 11. Shares of the company were down 28.6%.Price: $130.33, Change: $+2.72, Percent Change: +2.14%

$ARM$C$DDOG$MCD$SHAK$WHR$ZTS
Sectors

Sector Update: Consumer Stocks Higher Pre-Bell Thursday

Consumer stocks were higher premarket Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) advancing 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gaining 0.5%.Tesla (TSLA) stock gained over 1% before the bell after Reuters reported that the EV maker's China-made electric vehicle sales rose for a sixth consecutive month on a year-over-year basis.McDonald's (MCD) shares were 0.1% higher in premarket activity after the company reported higher Q1 adjusted earnings and revenue.Tapestry (TPR) stock were down 2.6% pre-bell despite the company reporting higher fiscal Q3 non-GAAP earnings and net sales.

$MCD$TPR$TSLA$XLP$XLY
Asia Markets

Peace Deal Hopes, Strong Earnings Nudge US Equity Futures Higher Pre-Bell

US equity futures were slightly higher pre-bell Thursday as hopes for a finalized peace deal between the US and Iran continue, on top of a strong earnings season to date.Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.1% higher.A final peace agreement would end the conflict and reopen the Strait of Hormuz, President Donald Trump said in a Truth Social post on Wednesday. The White House had said it was nearing an agreement with Iran that would end the war and establish a framework for more detailed nuclear negotiations, according to an Axios report.However, Trump said Iran's acceptance of the US proposal would be "perhaps, a big assumption," and warned that bombing would resume "at a much higher level and intensity than it was before" if an agreement was not reached. An Iranian foreign ministry spokesperson told CNBC on Wednesday that Iran was evaluating the proposal.Traders absorbed the most recent round of earnings, with Shell (SHEL) and McDonald's (MCD) posting higher Q1 adjusted earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 4.3% at $96.96 per barrel and US West Texas Intermediate crude 4.9% lower at $90.45 per barrel.The weekly jobless claims bulletin, released at 8:30 am ET, showed 200,000 new unemployment claims for the week ended May 2, compared with the upwardly revised figure of 190,000 in the prior week, and it came in below the 205,000 expected, according to estimates compiled by Bloomberg. Q1 nonfarm productivity increased at a 0.8% annual rate, topping forecasts for 0.6%, while unit labor costs increased 2.3%, compared with the 2.5% expected.The February and March construction spending reports are due at 10 am ET.Federal Reserve Minneapolis President Neel Kashkari, Cleveland President Beth Hammack, and New York President John Williams are slated to speak today.In other world markets, Japan's Nikkei closed 5.6% higher, Hong Kong's Hang Seng ended 1.6% higher, and China's Shanghai Composite finished 0.5% higher. Meanwhile, the UK's FTSE 100 was down 0.6%, and Germany's DAX index was 0.1% lower in Europe's early afternoon session.In equities, Tesla (TSLA) stock was up 1.9% after the company's China-made electric vehicle sales rose for the sixth consecutive month on a year-over-year basis, according to a Reuters report. DoorDash (DASH) shares rose 8.7% after the company posted Q1 earnings that topped analysts' consensus. Fortinet (FTNT) stock was up 17% after the company posted a stronger-than-expected jump in Q1 earnings and sales, as well as boosted its full-year 2026 guidance.On the losing side, Shell stock was down 1.8% after the company reported its Q1 financial results. ARM (ARM) shares fell 7% despite the company posting higher fiscal Q4 adjusted earnings and revenue.

Dow JonesNasdaq CompositeS&P 500$ARM$DASH$FTNT$MCD$SHEL$TSLA
US Markets

McDonald's First-Quarter Results Top Street Views Despite 'Challenging' Environment

McDonald's (MCD) reported better-than-expected first-quarter results on Thursday, while comparable sales rebounded more than market estimates despite what the company described as a "challenging" environment.The fast-food giant's adjusted earnings came in at $2.83 a share for the March quarter, up from $2.67 the year before, topping the consensus on FactSet for $2.74. Revenue increased 9% to $6.52 billion, surpassing the Street's view for $6.47 billion.The stock was up 3.2% in the most recent premarket activity.Comparable sales rose 3.8%, rebounding from a 1% decline in the prior-year quarter. The average analyst estimate on FactSet was for growth of 3.7%."McDonald's delivered this quarter," Chief Executive Chris Kempczinski said in a statement. "Our 6% global system-wide sales growth shows how we executed with discipline, proving that we can drive results even in a challenging environment."US same-store sales grew 3.9%, mainly buoyed by positive check growth, according to the company.UBS Securities said earlier in the week it expected McDonald's to record a 3.5% gain in US comparable sales versus consensus for a 4% increase, with momentum seen moderating into the ongoing quarter amid softer trends due to high fuel prices and macro pressures.Same-store sales advanced 3.9% in the international operated markets, led by the UK, Germany and Australia. In the international developmental licensed markets, the metric moved 3.4% higher, led by Japan, McDonald's said.Total operating costs and expenses rose to $3.56 billion from $3.31 billion last year.On Wednesday, Restaurant Brands International (QSR) posted first-quarter results above Wall Street's estimates, while the Burger King parent's comparable sales growth was in line with consensus. Last week, KFC and Taco Bell owner Yum Brands (YUM) reported better-than-expected first-quarter results.

$MCD
Japan

Peace Agreement Hopes, Strong Earnings Nudge US Equity Futures Higher Pre-Bell

US equity futures were marginally higher pre-bell Thursday as hopes for a finalized peace deal between US and Iran continue, on top of a strong earnings season to date.Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.1% higher.A final peace agreement would end the conflict and reopen the Strait of Hormuz, President Donald Trump said in a Truth Social post on Wednesday. The White House had said it is nearing an agreement with Iran that would end the war and establish a framework for more detailed nuclear negotiations, according to an Axios report.However, Trump said Iran's acceptance of the US proposal would be "perhaps, a big assumption," and warned that bombing would resume "at a much higher level and intensity than it was before" if an agreement was not reached. An Iranian foreign ministry spokesperson told CNBC on Wednesday that Iran was evaluating the proposal.Traders absorbed the most recent round of earnings, with Shell (SHEL) and McDonald's (MCD) posting higher Q1 adjusted earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 3% at $98.25 per barrel and US West Texas Intermediate crude 3.2% lower at $92.02 per barrel.The weekly jobless claims bulletin, scheduled for release at 8:30 am ET, is expected to show 205,000 new unemployment claims for the week ended May 2, compared with 189,000 in the prior week, according to estimates compiled by Bloomberg. The Q1 nonfarm productivity report is expected to show an annual gain of 0.6% after a 1.8% increase in the prior quarter. Unit labor costs are projected to rise 2.5%, compared with 4.4% previously.The February and March construction spending reports are due at 10 am ET.Federal Reserve Minneapolis President Neel Kashkari, Cleveland President Beth Hammack, and New York President John Williams are slated to speak on Thursday.

Dow JonesNasdaq CompositeS&P 500$MCD$SHEL
Research

Research Alert: Mcd: Q1 Eps Beats And Comps Improve Amid A Challenging Environment

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:MCD's Q1 global comparable sales of +3.8% met consensus and represented sharp acceleration from -1.0% the prior year, with U.S. comps inflecting to +3.9% from -3.6% and International Operated Markets improving to +3.9% from -1.0%. Adjusted EPS of $2.83 grew 6% and beat the$2.74 consensus, while adjusted operating income rose 11% as operating leverage materialized in the franchised model. The print reinforces the recovery narrative with value strategy gaining traction, evidenced by positive U.S. check growth indicating successful promotional initiatives. Management expects approximately 2,100 net restaurant additions and operating margins in the mid-to-high 40% range for 2026. The loyalty program remains a key driver with over $9B in quarterly systemwide sales across 70 markets. We believe the results validate that MCD's value positioning is resonating and should support investor confidence in the earnings trajectory, though traffic trends remain a key focus area for sustained momentum.

$MCD
US Markets

Stocks Rise Pre-Bell as Traders Monitor Developments on Potential US-Iran Peace Deal

US equity markets were moving higher before the opening bell Thursday as investors monitor the latest developments over a potential peace deal between the US and Iran.The S&P 500 and the Dow Jones Industrial Average were up 0.1% each, while the Nasdaq was slightly in the green in premarket activity. The indexes finished Wednesday trading higher, with the S&P 500 and the Nasdaq recording their highest close ever and biggest one-day percentage gains since April 8.President Donald Trump told reporters on Wednesday that the US has had "very good talks" with Iran over the past 24 hours, but said there's no deadline on when he expects Tehran to respond to a US proposal to end the war, according to CNN.American and Iranian officials are closing in on a one-page memorandum of understanding to end the war and establish a framework for nuclear negotiations, Axios reported Wednesday, citing sources.In a separate social media post on Wednesday, Trump said US operations against Iran will be "at an end" if Tehran agrees to US demands. "If they don't agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before," Trump said.Iran is expected to give mediators its response to the proposal on Thursday, a regional source told CNN.West Texas Intermediate crude oil dropped 2.2% to $93.03 a barrel before the open, while Brent decreased 2.1% to $99.14."A deal announcement would move futures further immediately, in fact even the potential of a deal is already triggering a decline in oil prices," Rystad Energy Chief Oil Analyst Paola Rodriguez-Masiu said in remarks emailed to. The physical market's recovery won't be as quick as the futures market predicts, Rodriguez-Masiu said, pointing to a six-to-eight-week lag between the strait reopening and oil flows normalizing.Treasury yields were down in premarket action, with the two-year rate retreating 2.3 basis points to 3.85% and the 10-year rate off 2 basis points to 4.33%.Shares of DoorDash (DASH) jumped 10% pre-bell after the food delivery company reported first-quarter earnings ahead of Wall Street's estimates. Warner Bros. Discovery (WBD) nudged 0.5% lower, while Snap (SNAP) fell 10% following their latest quarterly results.McDonald's (MCD), Sempra (SRE), Vistra (VST), Datadog (DDOG), Becton Dickinson (BDX), Tapestry (TPR) and US Foods (USFD) report their latest financial results before the bell, among others. Gilead Sciences (GILD), McKesson (MCK), Cloudflare (NET), Airbnb (ABNB), Monster Beverage (MNST) and CoreWeave (CRWV) are scheduled to announce their earnings after the markets close.Employers in the US announced 83,387 layoffs last month, up 38% from March, Challenger, Gray & Christmas said Thursday.Thursday's economic calendar also has the weekly jobless claims bulletin at 8:30 am.On Wednesday, ADP data showed that employment in the US private sector grew at its fastest pace in more than a year in April. The government's nonfarm payrolls report is out on Friday.Federal Reserve Bank of Minneapolis President Neel Kashkari is slated to speak at 1 pm, while Cleveland Fed President Beth Hammack speaks at 2:05 pm. New York Fed President John Williams' remarks are due at 3:30 pm.Gold increased 1% to $4,740 per troy ounce, while bitcoin declined 0.7% to $80,844.

Dow JonesNasdaq CompositeS&P 500$ABNB$BDX$CRWV$DASH$DDOG$GILD$MCD$MCK$MNST$NET$SNAP$SRE$TPR$USFD$VST$WBD
US Markets

S&P 500, Nasdaq Retreat From Record, Oil Jumps Amid Renewed US-Iran Tensions

The S&P 500 and the Nasdaq retreated from record highs as oil prices jumped amid signs that the Middle East conflict could intensify again.The S&P 500 lost 0.4% to close at 7,200.8, while the Nasdaq fell 0.2% to 25,067.8. The Dow Jones Industrial Average ended 1.1% lower at 48,941.9. Barring energy, all sectors were in the red, led by materials.Brent crude jumped 5.3% to $113.87 per barrel, while West Texas Intermediate crude rose 3.1% to $105.12.The US military destroyed six Iranian boats in the Strait of Hormuz on Monday after Tehran attacked US Navy ships and commercial vessels, CNN reported, citing Admiral Brad Cooper, the head of the US Central Command.A senior Iranian military official disputed that claim, Fox News reported, citing Iranian media. US President Donald Trump told news agency that Iran will be "blown off the face of the Earth" if they attack US vessels that support Trump's initiative to escort commercial ships through the Strait of HormuzTehran fired missiles and drones at the United Arab Emirates, the UAE's Defense Ministry said in a post on X earlier in the day.Two US-flagged vessels passed through the strait, the Central Command said Monday, denying claims from Iran that a US ship had been hit. Iran's Islamic Revolutionary Guard Corps said no commercial vessels or oil tankers had transited the narrow waterway, CNN reported.Meanwhile, the Israeli military reportedly issued an evacuation order for 10 villages in southern Lebanon.The broader conflict paused following two separate ceasefires; one between Washington and Tehran and the other involving Israel and Lebanon. However, a framework for a permanent truce is yet to be reached.The cumulative supply disruption due to the conflict has now reached an estimated 600 million barrels by early May, Wells Fargo Investment Institute said in a note."Absent a reopening of the strait within the next several weeks, the global oil market, in our view, is likely to enter a period of explicit demand rationing within the current quarter," Wells Fargo Investment Institute Chief Investment Officer Darrell Cronk said. "Rationing on the order of four million to five million barrels per day would be required within weeks to rebalance the system, with a typical 30-day lag before flow disruptions fully translate into end-market shortages."US Treasury yields were higher, with the 10-year rate up 6.3 basis points at 4.44% and the two-year rate rising 6.6 basis points to 3.96%."Notwithstanding the recent powerful rallies in stocks, challenges remain to finding resolution for the conflict and in our view persist as a potential negative overhang to market performance with news flow from the Middle East, the price of oil, and supply chain disruptions adding to inflation risks near term," Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said in a report. "That said, stock prices in the US continue to reflect in our view an appreciation for the fundamentals that matter most for revenue and profit growth."On the monetary policy front, New York Fed President John Williams said Monday that the Middle East conflict could keep inflation elevated for some time.Switching to quarterly results, S&P 500 companies' earnings and revenue growth accelerated compared with figures from a week ago, Oppenheimer Asset Management said Monday.Advanced Micro Devices (AMD), Disney (DIS), Uber Technologies (UBER), Shopify (SHOP), Pfizer (PFE) and McDonald's (MCD) are among major companies that are scheduled to release quarterly financials this week.Traders will be looking ahead to fresh labor market data later this week, beginning with the Job Openings and Labor Turnover Survey for March on Tuesday, followed by the ADP employment report for April on Wednesday. The Challenger Job Cut report and the government's nonfarm payrolls data, both for last month, are scheduled to be released on Thursday and Friday, respectively."Focus shifts from Big Tech to consumer-facing earnings and macro validation," Saxo Bank said in a report. "US earnings from Disney, Airbnb (ABNB), and McDonald's will test demand resilience, while the US jobs report will determine whether strong growth can sustain current equity levels."In company-specific news, Tyson Foods' (TSN) shares jumped 8%, the best performer on the S&P 500. The meat producer's fiscal second-quarter results surpassed Wall Street's expectations, lifted by price and volume gains in the chicken and prepared foods segments.Norwegian Cruise Line (NCLH) lowered its full-year earnings outlook on Monday amid higher fuel costs and weak consumer demand due to the Middle East conflict, while the cruise operator's first-quarter revenue fell short of market estimates. The stock fell 8.6%, among the worst performers on the S&P 500.EBay (EBAY) shares advanced 5.1%, among the best performers on the S&P 500, after video game retailer GameStop (GME) proposed to acquire the e-commerce company in a cash-and-stock deal worth about $55.5 billion. Shares of GME slumped 10%.Gold fell 2.6% to $4,524.40 per troy ounce, while silver declined 4% to $73.42 per ounce.

Dow JonesNasdaq CompositeS&P 500$ABNB$AMD$DIS$EBAY$GME$MCD$NCLH$PFE$SHOP$UBER
US Markets

Equities Fall Intraday, Oil Prices Climb as Traders Monitor Middle East Developments

US benchmark equity indexes were lower intraday and oil prices jumped as fighting in the Iran war flared up again.The Dow Jones Industrial Average was down 1% at 49,011.4 after midday Monday, while the S&P 500 lost 0.5% to 7,196.7. The Nasdaq Composite fell 0.3% to 25,038.8. The Nasdaq and the S&P 500 reached new peaks in the previous session.Barring energy, all sectors were in the red, led by materials.Brent crude jumped 6.1% to $114.79 per barrel, while West Texas Intermediate crude rose 4% to $106.13.The US military destroyed six Iranian boats in the Strait of Hormuz on Monday after Tehran attacked US Navy ships and commercial vessels, CNN reported, citing Admiral Brad Cooper, the head of the US Central Command.Tehran fired missiles and drones at the United Arab Emirates, the UAE's Defence Ministry said in a post on X earlier in the day.US President Donald Trump's initiative to escort commercial ships through the Strait of Hormuz began on Monday. Two US-flagged vessels passed through the strait, the Central Command said Monday, after denying claims from Iran that a US ship had been hit.Iran's Islamic Revolutionary Guard Corps said no commercial vessels or oil tankers had transited the narrow waterway, CNN reported.Meanwhile, the Israeli military reportedly issued an evacuation order for 10 villages in southern Lebanon."Notwithstanding the recent powerful rallies in stocks, challenges remain to finding resolution for the conflict and in our view persist as a potential negative overhang to market performance with news flow from the Middle East, the price of oil, and supply chain disruptions adding to inflation risks near term," Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said in a report. "That said, stock prices in the US continue to reflect in our view an appreciation for the fundamentals that matter most for revenue and profit growth."S&P 500 companies' quarterly earnings and revenue growth accelerated compared with figures from a week ago, Oppenheimer Asset Management said Monday.In company news, Norwegian Cruise Line (NCLH) lowered its full-year earnings outlook on Monday amid higher fuel costs and weak consumer demand due to the Middle East conflict, while the cruise operator's first-quarter revenue fell short of market estimates. The stock was down 8.9% intraday, the second-worst performer on the S&P 500.EBay (EBAY) shares were up 5.6%, among the best performers on the S&P 500, after video game retailer GameStop (GME) proposed to acquire the e-commerce company in a cash-and-stock deal worth about $55.5 billion. Shares of GME slumped 7.7%.Palantir Technologies (PLTR), Advanced Micro Devices (AMD), Disney (DIS), Uber Technologies (UBER), Shopify (SHOP), Pfizer (PFE) and McDonald's (MCD) are among major companies that are scheduled to release quarterly financials this week.Traders will be looking ahead to fresh labor market data later this week, beginning with the Job Openings and Labor Turnover Survey for March on Tuesday, followed by the ADP employment report for April on Wednesday. The Challenger Job Cut report and the government's nonfarm payrolls data, both for last month, are scheduled to be released on Thursday and Friday, respectively."Focus shifts from Big Tech to consumer-facing earnings and macro validation," Saxo Bank said in a report. "US earnings from Disney, Airbnb (ABNB), and McDonald's will test demand resilience, while the US jobs report will determine whether strong growth can sustain current equity levels."US Treasury yields were higher intraday, with the 10-year rate up seven basis points at 4.45% and the two-year rate rising 8.5 basis points to 3.98%.Gold fell 2.2% to $4,540.50 per troy ounce, while silver declined 3.7% to $73.62 per ounce.

Dow JonesNasdaq CompositeS&P 500$ABNB$AMD$DIS$EBAY$GME$MCD$NCLH$PFE$PLTR$SHOP$UBER
US Markets

McDonald's Could Miss First-Quarter US Comparable Sales Consensus Views, UBS Says

McDonald's (MCD) first-quarter US same-store sales growth is likely to fall short of consensus estimates, with momentum seen moderating into the ongoing quarter amid softer trends due to high fuel prices and macro pressures, UBS Securities said Monday.The brokerage expects the fast-food giant to post a 3.5% increase for US comparable sales in the first quarter, compared with the consensus of 4% growth. McDonald's is scheduled to report Thursday.The company started the quarter with solid momentum, but trends likely slowed down due to elevated fuel prices and pressured consumer sentiment, potentially offsetting some of the gains from its value initiatives."Our discussions suggest negative investor sentiment, likely reflecting concerns around slowing US sales trends (in the second quarter to date), difficult US comparisons in (the second half), and potential impacts from the Middle East conflict in Europe and globally," UBS analyst Dennis Geiger said in a note to clients.Energy prices have soared as the US-Israel war with Iran curtailed shipments through the crucial Strait of Hormuz. The conflict paused following a recent ceasefire between Washington and Tehran, but a framework for a permanent truce is yet to be reached. The war started at the end of February.McDonald's sales momentum is likely to have moderated in April, but UBS anticipates the company to continue to execute on key initiatives, with its value offerings, menu innovation and marketing to further resonate with consumers, including in the US. For 2026, the brokerage forecasts the company to record same-store sales growth of 2.3% in the US."We believe risk/reward for (McDonald's) shares is attractive despite near-term pressures, given catalysts with potential to drive market share gains and strengthen US sales growth, and defensive characteristics that should provide earnings stability in a still volatile environment," Geiger said. "We believe the brand remains well positioned globally and maintains important initiatives to strengthen trends."In April, RBC Capital Markets said it expected McDonald's first-quarter results to largely match Wall Street's expectations, with potential for downside given the company's exposure to low-income US consumers that are facing war-driven elevated energy prices.Last month, a survey by the University of Michigan showed that consumer sentiment improved from an initial April estimate, but remained at a record low as near-term inflation expectations logged the biggest monthly increase in a year.Price: $286.68, Change: $+0.04, Percent Change: +0.01%

$MCD
US Markets

S&P 500 Companies' Quarterly Profit, Revenue Growth Accelerates, Oppenheimer Says

S&P 500 companies' quarterly earnings and revenue growth accelerated compared with figures from a week ago, Oppenheimer Asset Management said Monday.Some 63% of companies in the benchmark equity index have reported results in the latest cycle, with earnings up 28% from a year earlier and revenue growing 11%. Last week's report by the brokerage showed profit and revenue growth at about 25% and 10%, based on financials reported by 28% of the index constituents.Ahead of the reporting season, FactSet put expected earnings growth at 12.6% from a year earlier, according to Oppenheimer.Of the companies that have reported results so far, 81% have exceeded analyst estimates, Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said.Among sectors, communication services and consumer discretionary outperformed in terms of earnings, with profits up by more than 50% each year over year. Technology led the chart for revenue growth, with a 22% increase, followed by communication services' 16% jump.This will be another busy week for corporate earnings, with Palantir Technologies (PLTR), Advanced Micro Devices (AMD), Disney (DIS), Uber Technologies (UBER) and McDonald's (MCD) due to post their financials.On Friday, the S&P 500 and the Nasdaq Composite reached new all-time closing highs.President Donald Trump has launched "Project Freedom" to escort commercial ships through the Strait of Hormuz. Two US-flagged vessels passed through the strait, the US Central Command said Monday, after denying claims from Iran that a US ship had been hit."Notwithstanding the recent powerful rallies in stocks, challenges remain to finding resolution for the conflict and in our view persist as a potential negative overhang to market performance with news flow from the Middle East, the price of oil, and supply chain disruptions adding to inflation risks near term," Stoltzfus said. "That said, stock prices in the US continue to reflect in our view an appreciation for the fundamentals that matter most for revenue and profit growth."Price: $148.03, Change: $+3.96, Percent Change: +2.75%

$AMD$DIS$MCD$PLTR$UBER
Asia Markets

US Equity Futures Slip Pre-Bell as Middle East Conflict Enters Third Month, Oil Prices Rise

US equity futures were marginally lower pre-bell Monday as the standoff in the Strait of Hormuz continued, with the Iran-US conflict reaching its third month and traders noting the increase in oil prices.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.1% higher.President Donald Trump said Sunday that the US would help guide vessels stranded in the Persian Gulf due to the conflict, and Iran responded by warning US forces not to enter the Strait of Hormuz.A US warship was turned away from entering the waterway after being hit by two missiles fired by Iran's navy near the port of Jask, according to Iran's Fars news agency, but a senior US official denied the report, Axios said.Among the companies expected to report quarterly earnings this week are Palantir Technologies (PLTR), Advanced Micro Devices (AMD), HSBC (HSBC), Arm (ARM), Shell (SHEL), and McDonald's (MCD).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2% at $110.31 per barrel and US West Texas Intermediate crude 0.8% higher at $102.72 per barrel.March factory orders, due at 10 am ET, are expected to have gained 0.6%, compared with no change previously, according to estimates compiled by Bloomberg.New York Federal Reserve President John Williams is due to speak today.In other world markets, Japan's Nikkei, China's Shanghai Composite, and the UK's FTSE 100 were all closed due to public holidays. Hong Kong's Hang Seng ended 1.2% higher. Germany's DAX index was flat in Europe's early afternoon session.In equities, Alibaba (BABA) shares rose 2% after Chinese robotics startup Linkerbot, which is backed by Alibaba unit Ant Group, said it will seek a $6 billion valuation in its next funding round, according to a Reuters report. EBay (EBAY) stock was 7.5% higher after GameStop (GME) said it submitted a non-binding proposal to acquire all outstanding shares of eBay for $125 each. Tyson Foods (TSN) shares were up 1.6% after the company reported fiscal Q2 adjusted earnings and sales that surpassed analysts' consensus.On the losing side, Norwegian Cruise Line (NCLH) stock was down 5.9% after the company issued lower-than-expected Q2 adjusted earnings guidance and trimmed its 2026 adjusted EPS outlook.

Dow JonesNasdaq CompositeS&P 500$AMD$ARM$BABA$EBAY$GME$HSBC$MCD$NCLH$PLTR$SHEL$TSN
Japan

US Equity Futures Slip as Middle East Conflict Enters Third Month, Oil Prices Rise

US equity futures were lower pre-bell Monday as the standoff in the Strait of Hormuz continued, with the Iran-US conflict reaching its third month and traders noting the increase in oil prices.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.1% lower.President Donald Trump said Sunday that the US would help guide vessels stranded in the Persian Gulf due to the conflict, and Iran responded by warning US forces not to enter the Strait of Hormuz.A US warship was turned away from entering the waterway after being hit by two missiles fired by Iran's navy near the port of Jask, according to Iran's Fars news agency, but a senior US official denied the report, Axios said.Among the companies expected to report quarterly earnings this week are Palantir Technologies (PLTR), Advanced Micro Devices (AMD), HSBC (HSBC), Arm (ARM), Shell (SHEL), and McDonald's (MCD).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3.4% at $111.89 per barrel and US West Texas Intermediate crude 2.9% higher at $104.93 per barrel.March factory orders are expected to have gained 0.6%, compared with no change previously, according to estimates compiled by Bloomberg.New York Federal Reserve President John Williams is due to speak today.

Dow JonesNasdaq CompositeS&P 500$AMD$ARM$HSBC$MCD$PLTR$SHEL
US Markets

Stocks Mostly Down Pre-Bell as Traders Assess Middle East Developments, Await Fresh Labor Data

The benchmark US stock measures were mostly pointing lower before the opening bell Monday as investors assess the latest developments in the Middle East involving the Strait of Hormuz and await fresh labor market data later in the week.The S&P 500 fell 0.1% and the Dow Jones Industrial Average declined 0.3% in premarket activity, while the Nasdaq was slightly in the green. The S&P 500 and the Nasdaq closed Friday's trading session with new record highs, while the Dow finished in the red.In a social media post on Sunday, President Donald Trump said the US will start guiding some neutral ships "locked up" in the Strait of Hormuz out of the crucial waterway. The initiative, dubbed "Project Freedom," is scheduled to begin on Monday, Trump said."These are ships from areas of the world that are not in any way involved with that which is currently taking place in the Middle East," according to Trump. "If, in any way, this humanitarian process is interfered with, that interference will, unfortunately, have to be dealt with forcefully."US Central Command said Sunday it will provide military support to restore commercial shipping through the strait, including the use of guided-missile destroyers.Iran's Fars news agency said two missiles hit a US warship in the Strait of Hormuz, Reuters reported Monday. US Central Command reportedly said that no US navy ships had been struck.Iran reportedly said Sunday it's reviewing a response from Washington to its latest offer for a peace deal, CNBC reported, citing Iranian state media. Tehran had reportedly sent an updated proposal to the US through Pakistani mediators.West Texas Intermediate crude oil climbed 4.7% to $106.76 a barrel before the open, while Brent advanced 4.8% to $113.37.Investors will be looking ahead to fresh labor market data later this week, beginning with the Job Openings and Labor Turnover Survey for March on Tuesday, followed by the ADP employment report for April on Wednesday. The Challenger Job Cut report and the government's nonfarm payrolls data, both for last month, are scheduled to be released on Thursday and Friday, respectively.Treasury yields were moving higher in premarket action, with the two-year rate inclining 3.9 basis points to 3.93% and the 10-year rate gaining 3 basis points to 4.41%.Federal Reserve Bank of New York President John Williams is slated to speak at 12:50 pm ET.Several major companies are expected to release their latest financial results this week, including Advanced Micro Devices (AMD), Walt Disney (DIS), McDonald's (MCD), Uber Technologies (UBER), Shopify (SHOP) and Pfizer (PFE).Palantir Technologies (PLTR) is set to announce its earnings after the markets close, while Tyson Foods (TSN) posts its results before the bell, among others.Shares of eBay (EBAY) jumped 10% pre-bell after video game retailer GameStop (GME) said it has sent a proposal to acquire the e-commerce company in a deal worth about $55.5 billion. Nebius' (NBIS) US-listed stock increased 2.5%.Gold fell 1.9% to $4,555 per troy ounce, while bitcoin nudged up 0.3% to $79,000.

Dow JonesNasdaq CompositeS&P 500$AMD$DIS$EBAY$GME$MCD$NBIS$PFE$PLTR$SHOP$TSN$UBER
Japan

Update: US Equity Investors to Focus This Week on Risk of Iran Ceasefire Falling Apart, Earnings, Nonfarm Payrolls

(Updates to add more information on the headline)US equity investors will look out for Iran ending its ceasefire agreement with Washington if the US military escorts ships stranded in the Strait of Hormuz, while focusing on mega-cap quarterly earnings and labor market data this week.* An Iranian official warned the US will be attacked if it tries to approach or enter the Strait of Hormuz, after President Donald Trump said the US military will begin guiding stranded ships through the chokepoint on Monday, CNN reported. US Central Command said it would support the effort with 15,000 military personnel, more than 100 land and sea-based aircraft, warships, and drones, Reuters reported.* Concurrently, Trump reported "very positive discussions" with Iran, according to CNN. The Iranian Foreign Ministry is reviewing the US' reply to Tehran's latest peace proposal, CNN reported, citing the ministry.* Meanwhile, West Texas Intermediate crude oil futures rose 1.3% to $103.27, and Brent crude futures climbed 1.3% to $109.62 early Monday. Most US Treasury yields also advanced, with the 10-year up two basis points to 4.4% and the two-year higher by 2.3 basis points to 3.91%.* Quarterly earnings due this week include Palantir Technologies (PLTR), Advanced Micro Devices (AMD), Arista Networks (ANET), Arm Holdings (ARM), Uber Technologies (UBER), Applovin (APP), Shell (SHEL), McDonald's (MCD), and Walt Disney (DIS).* Macroeconomic data due this week include nonfarm payrolls, JOLTS job openings, ADP private payrolls, Challenger job cuts, ISM services PMI, and the University of Michigan's preliminary consumer sentiment and inflation expectations.* Europe will respond should Trump follow through on his threat to raise tariffs on cars and trucks from the European Union to 25%, Eurogroup President Kyriakos Pierrakakis told Bloomberg. "The number one choice is always dialogue," he said. "If there is a deviation from what we have agreed upon, obviously all options are on the table and all choices will be on the table."

Dow JonesNasdaq CompositeS&P 500$AMD$ANET$ARM$DIS$MCD$PLTR$SHEL$UBER
Asia Markets

US Equity Investors to Focus on Risk of Iran Ceasefire Falling Apart, Quarterly Earnings, Nonfarm Payrolls

US equity investors will look out for Iran ending its ceasefire agreement with Washington if the US military escorts ships stranded in the Strait of Hormuz, while focusing on mega-cap quarterly earnings and labor market data this week.* An Iranian official warned the US will be attacked if it tries to approach or enter the Strait of Hormuz, after President Donald Trump said the US military will begin guiding stranded ships through the chokepoint on Monday, CNN reported. US Central Command said it would support the effort with 15,000 military personnel, more than 100 land and sea-based aircraft, warships, and drones, Reuters reported.* Concurrently, Trump reported "very positive discussions" with Iran, according to CNN. The Iranian Foreign Ministry is reviewing the US' reply to Tehran's latest peace proposal, CNN reported, citing the ministry.* Meanwhile, West Texas Intermediate crude oil futures rose 1.3% to $103.27, and Brent crude futures climbed 1.3% to $109.62 early Monday. Most US Treasury yields also advanced, with the 10-year up two basis points to 4.4% and the two-year higher by 2.3 basis points to 3.91%.* Quarterly earnings due this week include Palantir Technologies (PLTR), Advanced Micro Devices (AMD), Arista Networks (ANET), Arm Holdings (ARM), Uber Technologies (UBER), Applovin (APP), Shell (SHEL), McDonald's (MCD), and Walt Disney (DIS).* Macroeconomic data due this week include nonfarm payrolls, JOLTS job openings, ADP private payrolls, Challenger job cuts, ISM services PMI, and the University of Michigan's preliminary consumer sentiment and inflation expectations.* Europe will respond should Trump follow through on his threat to raise tariffs on cars and trucks from the European Union to 25%, Eurogroup President Kyriakos Pierrakakis told Bloomberg. "The number one choice is always dialogue," he said. "If there is a deviation from what we have agreed upon, obviously all options are on the table and all choices will be on the table."

Dow JonesNasdaq CompositeS&P 500$AMD$ANET$ARM$DIS$MCD$PLTR$SHEL$UBER
Research

Rothschild & Co Redburn Upgrades McDonald's to Neutral From Sell, Adjusts PT to $306 From $260

McDonald's (MCD) has an average rating of overweight and mean price target of $345.09, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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