ICYMI: Here's what happened in the markets this morning – CNN

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Only two of the thirty Dow stocks were higher Monday morning while the broader market fell — McDonald’s and oil giant Chevron. Exxon Mobil and Walmart were holding up reasonably well too.

Why weren’t big oil stocks, Walmart and Mickey D’s tumbling?

Chevron (CVX) likely rose more than 2% because it looks increasingly like it may not win an expensive bidding war for Anadarko Petroleum (APC) with Warren Buffett-backed Occidental Petroleum (OXY). Occidental boosted the amount of cash it is willing to spend as part of an Anadarko takeover on Sunday.

Chevron was also boosted by the fact that crude prices were relatively stable Monday — news that probably helped Exxon too.

As for McDonald’s (MCD), restaurant companies are often viewed as being more resistant to macro stock market trends. Consumers probably aren’t going to cut back on already affordable fast food even if the economy slows.

To that end, Wendy’s (WEN) and Burger King owner Restaurant Brands (QSR) were higher Monday too. Walmart rival Target (TGT) was down less than the overall market too.

McDonald’s and Walmart are also viewed as safer stocks because they pay healthy dividends. Two other Dow components that offer large dividend yields, Pfizer (PFE) and Dow (DOW), were flat on Monday too.