McDonald's (MCD): Sales Are Up, but the Restaurant Is Emptying Out

McDonald's is the world's largest restaurant chain and one of the most "safe-haven" stocks on the U.S. market: its dividend has been growing for half a century straight, and nearly all of its restaurants are owned by franchisees. Right now, this reputation is facing its toughest test in many years: customer traffic in the U.S. is declining, the company has promised franchisees billions of dollars in support, and U.S. Treasury bonds are yielding more than its dividend. Let’s take a closer look at what’s happening with the business, how much the market is now paying for the “Golden Arches,” and which levels on the chart are key.