NEW YORK (AP) — Rising commodity prices made up for weak earnings reports on Monday, pushing the stock market slightly higher.
Higher gold and copper prices boosted the stocks of mining companies in early afternoon trading. That helped offset lackluster results from a handful of large U.S. companies. McDonald’s stock fell after it reported a disappointing second-quarter and warned of a tough year ahead. Media company Gannett dropped after its revenues fell short of financial analysts’ expectations.
It’s a big week for corporate earnings. More than 150 companies in the Standard & Poor’s 500 stock index are reporting earnings this week.