CNBC Daily Open: U.S. stocks little changed ahead of Big Tech earnings, McDonald's misses estimates

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

Big Tech earnings
The S&P 500 and the Nasdaq Composite inched higher on Monday ahead of a busy week for Big Tech earnings with investors also awaiting the U.S. central bank's policy announcement on Wednesday. The S&P 500 closed 0.08% higher while the Nasdaq Composite gained 0.07%. The Dow Jones Industrial Average lost 0.12%. Treasury yields slipped and U.S. oil prices fell amid increasing tensions between Israel and the Iran-backed militia Hezbollah in Lebanon.

McDonald's miss
McDonald's quarterly earnings and revenue fell short of analysts' expectations as same-store sales declined globally for the first time since 2020. The fast-food giant's second-quarter net income fell to $2.02 billion from $2.31 billion a year ago, while revenue was nearly flat at $6.49 billion. The company said it was working to create value for customers who think its prices are too high, and that its recently launched $5 value meal promotion in the U.S. was bringing lower-income diners back to its stores. McDonald's shares closed 3.74% higher.

Apple AI
Apple has released the first version of Apple Intelligence to registered developers, but the eagerly awaited AI software may not be loaded onto the next batch of iPhones. The new software is found in the developer beta of iOS 18.1, whereas iPhones launched this fall are slated to run on iOS 18. The launch of Apple Intelligence is expected to spark a wave of mobile phone upgrades since the system will only work on high-end iPhone models such as the iPhone 15 Pro and iPhone