Mon, Jul 22, 2013 5:04 PM EDT 1:22
The stock market is closing at a record high despite a disappointing quarterly performance from McDonald's.But the price of gold broke above the $1,300 mark for the first time in a month, and gave mining stocks a lift. Gold rose $43.10, or 3 percent, to $1,336 an ounce. Beyonce and her rapper husband Jay-Z joined demonstrations on the streets of New York City to protest against the controversial verdict in the Trayvon Martin case. Stock index futures pared gains to trade flat, pressured by a decline in McDonald's shares after its results and as investors booked profits after the S&P 500 index hit yet another closing high on Friday. McDonald's Corp earnings came in a busy week of reports, with about one-third of S&P 500 companies due to report, including Apple and entertainment provider Netflix Inc . McDonald's Corp reported a 4 percent rise in quarterly profit, while global sales at established restaurants were in line with analysts' expectations. Shares fell 2 percent to $97.