Stocks waver after record run
The S&P 500 and the Nasdaq both held modest gains at the open. The Dow Jones industrial average was flat.
Shares of McDonald's fell nearly 2% after the fast-food chain reported weak sales growth in the third quarter. Halliburton shares fell after the oil field services company's earnings met expectations. Netflix is among the companies slated to release quarterly results after the market closes.
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At 10 a.m. ET, the National Association of Realtors will release its monthly report on existing home sales.
Stocks finished higher Friday, continuing a rally in the aftermath of the end of U.S. government debt and budget crisis. The S&P 500 hit a record high. The Nasdaq posted a gain of more than 1% on Friday and was up more than 3% for the week. The Dow Jones industrial average was up more than 1% for the week, and has advanced for two consecutive weeks.
Peter Cardillo, chief economist at Rockwell Global Capital, said the rally 'seems to have long legs,' driven by decent earnings reports. But he added that 'the market will be looking for an excuse' to pull back by 1% or 2%. That excuse, he said, might be the October jobs report, which will be released Tuesday after being delayed by the partial shutdown of the federal government.
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Bank stocks were in focus following news that JPMorgan Chase and the Department of Justice have tentatively agreed to a $13 billion civil settlement to resolve several investigations into the bank's mortgage securities business.
European markets were mixed in midday trading. Asian markets closed higher Monday. 
First Published: October 21, 2013: 9:43 AM ET
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