MCD - Stock Market News: McDonald's Looks Beyond Meat; Baidu Aims to Trim Ctrip Stake
Thursday morning didn't bring good news for investors, as market participants were largely stuck trying to figure out the implications of the various allegations facing President Trump. The possibility of impeachment inquiries and other investigations raised fears of further Washington gridlock and other repercussions. As of 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 98 points to 26,873. The S&P 500 (SNPINDEX: ^GSPC) fell 15 points to 2,970, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was lower by 68 points to 8,009.
In stock news, McDonald's (NYSE: MCD) made a high-profile move in deciding to test out menu products using plant-based foods from Beyond Meat (NASDAQ: BYND). Meanwhile, across the Pacific, Chinese search engine giant Baidu (NASDAQ: BIDU) revealed that it's looking to sell off a portion of its holdings in online travel website Ctrip.com International (NASDAQ: CTRP).
Shares of McDonald's climbed less than 1% after the fast-food giant announced that it would test what it calls the P.L.T. on menus in select locations in Canada. The company slated a 12-week trial to start on Monday, Sept. 30, and customers will be able to try the product in any of 28 restaurant locations across the southwestern portion of the province of Ontario.