NEW YORK (MarketWatch) -- Retail stocks seesawed in early trading Wednesday as fast-food giant McDonald's Corp.'s August same-store sales fell short of expectations.
McDonald's /quotes/comstock/13*!mcd/quotes/nls/mcd (MCD 55.52, -0.70, -1.25%) , a Dow Jones Industrial Average component, fell 2.3% to $54.95.
The company said global comparable-sales rose 2.2% in August after new products and its McCafe coffees helped to bolster demand in the U.S., offsetting lower sales in Asia.
Still, the total gain missed the average estimate of a 2.5% increase among analysts surveyed by FactSet Research. See full story.
The S&P Retail Index /quotes/comstock/10u!rlx.x (RLX 373.22, +2.30, +0.62%) rose 0.3% to 372.16 after a decline at the open. Investors' attention is focused on the Federal Reserve's Beige Book report due out Wednesday afternoon.
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