Opening Bell: U.S. Stocks Fall on Oil Worries; McDonald’s Beats Estimates

U.S. stocks opened slightly lower on Monday, as oil prices slipped. Investors were again worried about too much supply in global markets. ‘We need to work through this excess supply before prices will find a bottom,’ said David Lebovitz, global markets strategist at JPMorgan Asset Management. Meanwhile, manufacturing company Johnson Controls (JCI) will merge with Tyco International (TYC) in an inversion deal. Johnson Controls will move its headquarters to Ireland, where Tyco is based, in an effort to save $150 million in taxes annually. Also, McDonald's (MCD) posted fourth quarter earnings ahead of forecasts on the top and bottom lines. The fast food giant reported a 5 percent rise in global same store sales, beating estimates of 3.2 percent. TheStreet’s Scott Gamm reports from Wall Street.