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Stocks struggled for direction on Monday, after the Dow and S&P 500 logged their fourth-straight week higher, pressured by some mixed earnings reports.
The Dow Jones Industrial Average opened in negative territory, dragged by McDonald's and was down 13 points in early trading.
The S&P 500 and the Nasdaq wavered in a narrow range at the opening. On Friday, the S&P 500 posted a three-day winning streak to log a record close?its 22nd this year.
The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 12.
Dow component McDonald's registered quarterly earnings that missed both for bottom-line profit and top-line revenue.
The fast food chain saw earnings of $1.38 per share against expectations of $1.40 and revenue of $7.08 billion that fell short of estimates for $7.1 billion. Shares dropped about 2.4 percent in initial reaction to the report, sending stock futures well off their morning highs.
(Read More:McDonald's finance guide 'insulting' to low-wage workers)
Around 20 percent of S&P 500 companies have already reported, with 65 percent beating earnings estimates and 51 percent beating on revenues, according to Reuters. If all remaining companies post earnings in line with forecasts, earnings will be up 2.9 percent on the year before.
This week will be the busiest in second-quarter earnings season, with about a third of S&P 500 companies due to report, plus eight Dow-listed companies.
European and Asian shares ticked higher, boosted by upbeat earnings and an electoral victory for Japanese Prime Minister Shinzo Abe's coalition, signaling a green light for future monetary stimulus.
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