Summary: Stocks finish week off strong; Treasury yields fall; McDonalds sales warning; U.S. productivity rebounds. Bobbi Rebell reports.
▲ Hide Transcript
▶ View Transcript
U.S. stocks finished out the week on a high note- rallying after Russia said its military exercises near Ukraine's border are over- overshadowing concerns about U.S. air strikes in Iraq.
That news also turned stocks positive for the week.
Utilities were the best performers on the S&P 500. Their high-dividend yield - attractive to investors after the U.S. 10-year Treasury note yield fell to a 14-month low. Shares of Both Nvidia and Gap rose after strong earnings Thursday.
The dollar hitting roughly two- week lows versus the Swiss franc - a sign investors are looking for safety.
McDonald's is warning its sales are at risk this year after a food scare forced it to take some popular items- think Big Macs and McWings - off the menu in China.
Technomic's David Henkes:
SOUNDBITE: DAVID HENKES, VICE PRESIDENT, TECHNOMIC (ENGLISH) SAYING:
"McDonald's clearly challenged from a number of fronts. Its consumers aren't spending money and traffic is down. Competitively its getting its lunch eaten literally and figuratively by competitors."
Tekmira stock surged- the U.S. Food and Drug Administration modified the status of its Ebola treatment- potentially allowing it to be used on infected humans.
U.S. productivity rebounded in the second quarter- rising at a 2.5 percent pace. That's putting a lid on wage pressures- and ultimately giving the Federal Reserve more room to keep interest rates low for a while.
Argentina back in court and in more trouble. A U.S. judge in the country's long-running debt battle threatened a contempt of court order on Friday- if the country does not stop issuing false statements- specifically saying it has made the required debt payments.
In Europe shares fell for the seventh time in eight sessions.
Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code