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 You didn't miss much if you were too busy following royal baby news. First, the scoreboard: - Dow: 15,545.5, +1.8, +0.0%
- S&P 500: 1,695.5, +3.4, +0.2%
- NASDAQ: 3,600.3, +12.7, +0.3%
And now, the top stories: - Stocks made modest moves higher after ending last week at all-time highs.
- According to S&P Capital IQ's Sam Stovall, each of the 11 bull markets since 1949 lasted an average 57 months. Also, 7% of all trading days within these bull markets set all-time closing highs. The current bull market has spent just 2% of its rally hitting new highs.
- From UBS's Art Cashin before the U.S. markets opened: "Duchess of Cambridge goes into hospital and into labor. A delivery will likely consume all media attention for the day." It did.
- Existing home sales unexpectedly fell 1.2% in June to an annualized pace of 5.08 million. Economists were looking for the level to rise to 5.26 million. Inventory climbed 1.9% to 2.19 million, which represents a 5.2-month supply. The average price climbed for the sixteenth straight month to $214,200. See 15 Cities Where House Flippers Are Making Tons Of Money »
- In corporate news, McDonald's announced Q2 earnings of $1.38 per share, which was weaker than expected. Global comparable store sales climbed by 1.0%, which was in line with expectations. However, U.S. comps climbed 1.0%, which was below the 1.5% expected. The "informal eating out market remains challenging and economic uncertainty is pressuring consumer spending," said CEO Don Thompson. "While our consolidated results this quarter were positive, global comparable sales for July are expected to be relatively flat. Based on recent sales trends, our results for the remainder of the year are expected to remain challenged."
- The Duchess of Cambridge Kate Middleton gave birth to a boy at 4:24 p.m. local time, or 11:24 a.m. ET. He was born weighing 8lbs, 6 oz.
- Don't Miss: 14 Charts FedEx CEO Fred Smith Watches When He Thinks About The US Economy »
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