The stock market increased on Monday driven by stocks that are expected to benefit from a President-elect Donald Trump’s policies.
Overall, S&P 500 and NASDAQ rose 0.1% to 6,001 and 19,299, respectively.
Tweet of the Day
Great info on an up and coming stock RocketLab $RKLB https://t.co/PxEhIcTfdU
— David Sharek (@GrowthStockGuy) November 2, 2024
Chart of the Day
Here is the ten-year chart of O’Reilly Automotive (ORLY) as of July 31, 2024, when the stock was at $1,126.
O’Reilly Automotive delivered disappointing results as the market experienced a sluggish performance, likely reflecting industry-wide challenges. The company delivered just 3% profit growth last quarter and missed analyst estimates of 9%. Revenue growth of 5% missed estimates of 7%.
Management stated that the quarter began with slow performance due to headwinds from cool, wet weather during the spring selling season. The softness persisted until May, but they observed an improving trend towards the start of June. Management believes that the softness of the business was a broad-based pressure throughout the industry. Although, despite the disappointing results ORLY released, the stock went up after earnings probably because the investors anticipated this results and look ahead to potential improvements.
ORLY is part of our Conservative Growth Portfolio.
