US STOCKS-Wall St edges up with help from McDonald's

Mon Dec 10, 2012 10:18am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* McDonald's shares rise on November sales

* Investors look for progress in Washington talks

* Italian prime minister resignation adds to uncertainty

* Indexes up: S&P 0.1 pct, Dow 0.3 pct, Nasdaq 0.3 pct

By Leah Schnurr

NEW YORK, Dec 10 (Reuters) - U.S. stocks were modestly higher on Monday, helped by stronger-than-expected sales from McDonald's, but gains were constrained as investors awaited any sign of progress in talks to avert the so-called fiscal cliff.

Developments in Europe also tempered sentiment after Italian Prime Minister Mario Monti said he would resign once the 2013 budget is approved. The move added to uncertainty about reducing euro zone debt and drove Italy's borrowing costs higher.

U.S. President Barack Obama met with Republican House Speaker John Boehner on Sunday to negotiate a deal for avoiding the "fiscal cliff" that is set to go into effect in the new year.

The two sides declined to provide details about the unannounced meeting. Obama is expected to make remarks at 2 p.m. (1900 GMT) from Michigan where he is touring an auto plant.   Continued...