Two of the major indices rebounded on Tuesday as investors prepared for key inflation data to be released this week. Meanwhile, the latest consumer confidence numbers unexpectedly slipped to 106.7 in February, lower than the 110.9 revised January numbers and 115.1 estimate.
Overall, S&P 500 rose 0.2% to 5,078, while NASDAQ increased 0.4% to 16,035.
Tweet of the Day
There's no "second round" of inflation coming…. commodities are telling you this. https://t.co/evJQnFa9ec
— Bill (@wabuffo) February 26, 2024
Chart of the Day
Here is the ten-year chart of McDonald’s (MCD) as of February 13, 2024, when the stock was at $287.
McDonald’s has launched a new brand – CosMc. This features fruit slushes, lemonade, ice tea. On the food side, they have few doughnuts and egg sandwiches, as well as dessert items including cookies, ice cream, and shakes. So far, the company is doing a 10-store test. Meanwhile, at McDonald’s, the Accelerating Arches strategy is working, as global same-store sales have jumped 30% since 2019.
MCD is part of the Conservative Growth Portfolio. The company has good momentum here, but with a P/E of just 21, the stock has very good upside.
