All quiet on the Western front Monday as investors came back after a weekend break from a very volatile week. The S&P 500 gained 0.16% and the NASDAQ 0.52%. New Federal Reserve head Janet Yellen testifies tomorrow and while no one expects a break from the normal song and dance that Bernanke offered it will be the first time we see the new Chair testify in Congress.
No changes to the indexes from Friday in terms of outlook; we will see if this is yet another V shaped bounce.
McDonald’s Corp (MCD) reported a decline in U.S. January same-store sales, though global sales were above expectations.
Hasbro Inc (HAS) was the S&P’s top percentage gainer, rising 4.5%. The toymaker reported quarterly results and gave an upbeat outlook.
Yelp (YELP) and Yahoo (YHOO) were in the news as the Wall Street Journal reported on Saturday that Internet portal Yahoo was partnering with the consumer-reviews website to beef up local results in its search engine.
Apple (AAPL) rose after Carl Icahn said in a letter to shareholders he sees no reason to persist with his proposal that the iPhone maker buy back $50 billion of its shares. It was a bit of a strange reaction.