McDonald's, Caterpillar Drive Triple-Digit Dow Gains; Alphabet Sinks

The Dow Jones Industrial Average held onto triple-digit gains through the morning session.
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The Dow Jones Industrial Average held onto triple-digit gains through the morning session, while the S&P 500 reached a new intraday record. The Nasdaq had a tougher time as Alphabet Inc. (GOOGL) - Get Report fell on traffic acquisition costs. McDonald's Corp. (MCD) - Get Report was one of the best performers on the Dow following a better-than-expected quarterly performance. Global same-store sales increased 6.6%. U.S. same-store sales climbed nearly 4% and came in 100 basis points above estimates. Caterpillar Inc. (CAT) - Get Report , another Dow component, rallied on an upbeat outlook. The heavy machinery company said it was seeing improved demand for construction across most regions. The U.S. consumer remains confident even as spending remains tepid. The Conference Board's consumer confidence index hit its second-highest level since 2000 in July.

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