NEW YORK (CNNMoney)
The Dow Jones industrial average was down a handful of points, while the S&P 500 was essentially flat at the opening bell. The Nasdaq edged up 0.2%.
"Looking at the rest of the week ahead, it will be a bumper one for U.S. earnings as around 160 S&P 500 constituents are scheduled to report," wrote Deutsche Bank analyst Jim Reid, in a market report. "With U.S. banks now largely out of the way, we should get a clearer picture of how corporate America is performing."
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Earnings parade: McDonald's (MCD, Fortune 500) reported earnings and sales that fell short of forecasts. Same-store sales, a key metric of economic health, rose 1%.
Halliburton (HAL, Fortune 500) reported an increase in quarterly profit and a revenue record, driven in part by drilling in Angola, Russia and the North Sea.
Kimberly-Clark (KMB, Fortune 500), producer of Kleenex, Huggies, Kotex, Depends and Scott products, reported an increase in quarterly profit but sales were flat.
Six Flags (SIX) shares fell after the amusement park operator said earnings slumped 26% in the second quarter. The company is also struggling with the fallout from a fatal roller coaster accident over the weekend.
Netflix's (NFLX) report is due after the close.
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Several major tech companies will report quarterly results later this week, including Apple (AAPL, Fortune 500), Facebook (FB) and Amazon (AMZN, Fortune 500).
The financial performance of these companies always garners a lot of attention. But investors are even more keenly awaiting them this time, since they come on the heels of poor earnings from Google (GOOG, Fortune 500) and Microsoft (MSFT, Fortune 500).
In other corporate news, Yahoo! (YHOO, Fortune 500)announced that it will repurchase 40 million Yahoo! shares from long-time backer Third Point Capital. The hedge fund, run by activist investor Dan Loeb, will retain a small stake.
UBS (UBS) agreed to pay about $745 million to settle a case with the U.S. Federal Housing Finance Agency over improperly selling mortgage-backed securities to Fannie Mae and Freddie Mac in the United States.
Gold boost: Shares of mining companies were higher as the price of gold rose more than 2% to trade above $1,300 an ounce.
Barrick Gold (ABX), Newmont Mining (NEM, Fortune 500), Kinross Gold (KGC) all gained about 4%.
In economic news, the National Association of Realtors will publish data on existing home sales at 10 a.m. ET.
U.S. stocks finished mixed Friday, though the major indexes are currently near record highs.
The Dow and S&P 500 ended Friday with a fourth straight week of wins.
World markets: In Europe, the major indexes were mixed in midday trading.
Asian markets ended with mixed results. Japan's Nikkei advanced by 0.5% after voters rewarded the architects of Abenomics with a sweeping electoral victory.
"Japan now has no election planned for the next three years, suggesting Abenomics will be here to stay for some time," wrote Reid. "Politics aside, the next test for Abe's economic agenda is Japanese corporate profitability, with the domestic earnings season kicking off this week."
First Published: July 22, 2013: 9:43 AM ET
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