S&P 500 and NASDAQ extended their post-election rally in the wake of President-elect Donald Trump’s victory after the Federal Reserve cut interest rates. During the day, the central bank implemented a cut of 25 basis points (bps) to its benchmark interest rate.
Overall, S&P 500 rose 0.7% to 5,973, while NASDAQ increased 1.5% to 19,269.
Tweet of the Day
Amazon $AMZN CEO stating they have more demand for AI than they can deliver. That's bullish for NVIDIA $NVDA https://t.co/TNLiuR6m4c
— David Sharek (@GrowthStockGuy) November 1, 2024
Chart of the Day
Here is the one-year chart of Domino’s Pizza (DPZ) as of October 22, 2024, when the stock was at $427.
The master franchisee, Domino’s Pizza Enterprises (DPE), closed some low-volume stores in Japan (~80) and France (~30) markets. However, this seems to be a one-quarter event as profits are expected to pick up next quarter.
Also, management noted that it saw softer sales among low-income customers. International same-store sales were just 1%. Soft performance was due to economic struggles and global issues outside the US – Europe and Asia faced economic challenges, and Japan’s performance was slowed by operational issues. In the Middle East, rising geopolitical tensions also led to weaker results.
DPZ is part of 0ur Conservative Growth Portfolio. David Sharek, Founder of School of Hard Stocks, is not as confident in the company’s future as he used to be, as food delivery is more common now. Nevertheless, DPZ seems like a 12% grower. Profit estimates are 10%, 13%, and 13% growth over the next three quarters.
