The S&P 500 is down 0.2% shortly after the open, paring some of the early loses.

Here are some indications from corporates on the broader macro-economy:

  • McDonald's global comp sales +1.9% vs +2.35% expected
  • Coca-Cola revenues 11.3B vs 11.01B expected
  • KO said: Unit case volume grew 1%. Developed markets were flat, while developing and emerging markets grew low single digits, driven by growth in Brazil, the Philippines and Nigeria. Asia-Pacific volumes -2%
  • Restaurant Brands comp sales +4.6% vs +3.4% expected
  • Restaurant Brands Canada comp sales +7.5%
  • Molson Coors net sales grew 10.1% on a constant currency basis
  • Pay Pal total payment volume increased 14%

Overall, there isn't any sign of real weakness here but I'll look for more comments in conference calls.