In a shortened Black Friday session, the stock market closed higher, with S&P 500 hitting its best month in 2024. It rose 0.6% to 6,032 during the day and registered a monthly gain of 5.7%. Meanwhile, NASDAQ increased 0.8% to 19,218.
Tweet of the Day
I bought Cadence Design Systems $CDNS for clients in my Growth Portfolio today.
The company has a hardware/software platform for designing semiconductors. Clients include NVIDIA and Tesla, as well as the US Army & Airforce, Arm, Taiwan Semi, etc.Generational trands such as… pic.twitter.com/aJ9xi4X60b
— David Sharek (@GrowthStockGuy) November 19, 2024
Chart of the Day
Here is the ten-year chart of O’Reilly Automotive (ORLY) as of October 30, 2024, when the stock was at $1,162.
The company had a solid start in July, but sales softened towards the end of the month and continued to decline, largely due to a challenging industry demand. Sales softness was most pronounced in discretionary categories like appearance chemicals, tools, and performance parts.
The average US consumer is suffering from high interest payments on credit cards and car loans, as well as higher rent and grocery bills. As a result, they stuck to necessities like oil, filters and spark plugs.
Looking ahead, analysts give the stock an Estimated Long-Term Growth Rate of 10% per year. However, with profits growing at half that rate now, ORLY was sold from our Conservative Growth Portfolio. David Sharek, Founder of School of Hard Stocks, felt that the shares offer little-to-no upside for the year ahead.
