Stocks Opening Mixed Following Disarray in Italy
NEW YORK - Stocks are opening mixed on Wall Street after the surprise resignation of Italy’s prime minister sent a jolt through European markets.
McDonald’s rose after reporting stronger sales.
The Dow Jones industrial average inched up seven points to 13,162 shortly after the opening bell Monday.
The broader Standard & Poor’s 500 index was down a fraction of a point at 1,417. The Nasdaq composite was up a fraction at 2,978.
The departure of Italy’s Prime Minister Mario Monti surprised markets. Monti was credited with restoring confidence in Italy’s rattled economy. Italy’s benchmark stock index dropped 3 percent and the yields on Italy’s government bonds rose as investors sold them.
Monti said he can’t lead the country after former Prime Minister Silvio Berlusconi’s party dropped its support.