Markets are doing the cha-cha this morning

The market’s having one of those mornings

U.S. stocks came out of the gate looking like they couldn’t agree on lunch. The Dow fell more than 100 points, while the Nasdaq and S&P 500 managed to stay in the green. Translation: investors are still rotating around, but not in a clean, everyone-hops-on-the-same-bandwagon kind of way.

McDonald’s brought the fries, not the drama

The most investable headline in the mix was probably McDonald’s. The burger giant reported first-quarter adjusted EPS of $2.83, topping the Street’s $2.74, and sales of $6.517 billion also beat expectations. For investors, that’s the kind of “boring” beat that can quietly keep a stock glued to the top shelf.

The winners and the faceplants

This morning’s movers were a reminder that earnings season can feel like a reality show:

• Agilon Health jumped after better-than-expected first-quarter results and a second-quarter sales outlook that came in above estimates, plus higher FY26 sales guidance.
• Global Engine Group surged after announcing a non-binding MOU with Angkasa-X to build a space-to-AI digital infrastructure platform. Yes, that is a very 2026 sentence.
• Rackspace Technology rallied on better-than-expected first-quarter sales.
• On the other side, enGene Therapeutics slid hard after updated interim data from its LEGEND pivotal cohort.
• OneConstruction Group and GD Culture Group also got hammered, because apparently the market was in a take-no-prisoners mood.

Bigger picture

Under the hood, the broader tape was also reacting to a mixed bag of macro data: construction spending rose in March, productivity improved, and jobless claims ticked up. So if you’re trying to read the tea leaves, the message is pretty simple: this market is still picky, and stock-specific news is doing most of the heavy lifting.