Why These Food Stocks Are on the Rise Wednesday
Shares of Brinker International (NYSE: EAT), Wendy's (NASDAQ: WEN), McDonald's (NYSE: MCD), and Yum! Brands (NYSE: YUM), well-known fast food and restaurant stocks, are all moving higher today after a handful of earnings reports beat estimates, and the Senate passed a deal for more economic stimulus, helping to push broader markets higher.
At the end of trading today, Brinker was up 10%, Wendy's was up 4.9%, McDonald's was up 5%, and Yum! Brands was up 6.9%.
The U.S. Senate passed an interim deal to add $484 billion to its small business aid program, COVID-19 testing, and hospital aid packages, and the House could vote as soon as Thursday. The general feeling is that, if passed and signed, the bill would help bolster some of the measures taken in late March, but likely wouldn't be the final stimulus needed.
Source Fool.com
