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McDonald's Finds the Beef

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New burger offering pits innovation against recession.

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Minyan Morning Memo

One to Watch:
McDonald's (MCD) starts selling bigger burgers for $4 today. The timing of its premium Angus offering may seem odd in light of a recession and America's avowed intent to lose weight. Will a clientele conditioned to value meals trade up? It's a tall order but the company's constant innovation is commendable and a reason it was one of only two Dow components, along with Wal-Mart (WMT), to make investors money in '08. Shares are down year-to-date but with its yield investors are paid to wait.

What Just Happened: Yesterday saw stocks start the second half eking out gains in light trading amid mixed messages on the economy. Sony's (SNE) Walkman turned 30 to offer wistful proof portable music predates 2001, when another product became the Apple (AAPL) of our iPod. Last month was confirmed as New York's second wettest June on record. Something no meteorological marvel predicted and a redundant reminder weathermen were created to make economists look good.

What's Happening: Asia, ex China, ended down. Europe is trading lower after employment on the continent touched a ten year trough. Here at home futures are in the red ahead of key payroll data. The dollar is off from its three week lows. And incomparable Karl Malden has been called home, remembering to leave with American Express (AXP) travelers checks. May a class act, and actor, RIP.

What Will Happen: A holiday shortened week comes to a close, notwithstanding the nursery rhyme which assured us "Thursday's child has far to go." The June jobs report at 8:30 AM Eastern towers over all others with continued deterioration expected. Factory orders for May are out at 10:00 AM before everyone hits the beach in earnest. And earnings span the alphabet with companies from Acuity Brands (AYI) to Zep Inc. (ZEP) among those releasing results.

Happenstance: The final trading day before July 4th is ordinarily an antidote to insomnia but it doesn't often coincide with the month's most important economic report. A critical employment gauge combined with wafer thin trading could make for fireworks.

No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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