The stock market rose on Tuesday after inflation reported an increase of only 0.1% from the previous month, against the 0.3% forecast. Investors looked ahead on the Fed’s policy decision.
Overall, S&P 500 was up 0.7% to 4,020, while NASDAQ increased 1.0% to 11,257.
Tweet of the Day
Tesla will be great long-term, but doesn’t control macroeconomic tides
— Elon Musk (@elonmusk) December 13, 2022
Chart of the Day
Our chart of the day is the ten-year chart of Old Dominion Freight Line (ODFL) as of November 25, 2022, when the stock was at $297.
Old Dominion Freight Line is a national freight leader that provides next-day and second-day shipping of less than full truckloads of merchandise.
The company just delivered another solid quarter as profits jumped 36% on a 15% gaining revenue. The primary reason for the bump up in revenue was a 17% increase in revenue per hundredweight with a 3% decrease in tons shipped. That was the 7th straight quarter wit double-digit revenue growth as the company continues to see demand for its services.
ODFL looks good here but a recession could slow growth. With a P/E in the mid-20s, the stock is fairly valued here. It is on the radar for the Conservative Portfolio.