US STOCKS-Wall St edges up, led by McDonald's and tech

Mon Dec 10, 2012 1:36pm EST
 
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* McDonald's shares rise on November sales

* Italian prime minister's resignation adds to uncertainty in Europe

* Investors look for progress in Washington "fiscal cliff" talks

* Dow up 0.2 pct, S&P up 0.1 pct, Nasdaq up 0.2 pct

By Gabriel Debenedetti

NEW YORK, Dec 10 (Reuters) - U.S. stocks advanced slightly on Monday, helped by gains in McDonald's after the fast-food giant posted strong sales results, and a move up in technology shares.

Technology stocks were the S&P 500's best-performing sector as Hewlett-Packard Co climbed 2.5 percent to $14.14 on rumors that activist investor Carl Icahn is building a stake in the PC maker. The stock is down 44.5 percent for the year and ranks as the Dow's worst performer.

Tech was also supported by Cisco Systems, which gained 2.2 percent to $19.75 after the company presented its midterm growth strategy on Friday. Monday's rally put the stock on track for its fifth advance in the past six sessions. [I D :nL1E8N76OF]

U.S. President Barack Obama met with Republican House Speaker John Boehner on Sunday to negotiate a budget deal. A Boehner aide said Monday that talks are continuing. Obama is expected to make remarks at 2 p.m. (1900 GMT) from Michigan where he is touring an auto plant.   Continued...