The stock market climbed on Wednesday as investors hoped that cooler inflation would make the Federal Reserve pause its rate-hiking campaign.
Overall, S&P 500 grew 0.2% to 4,503, while NASDAQ increased 0.1% to 14,104.
Tweet of the Day
Hedge funds' top picks for Q3 2023 are in!
That's a lot of $GOOG 👀
Key investment themes:
🤖 AI & LLMs: $AMZN, $META, $MSFT
⚙️ Semiconductors: $AMD, $NVDA
☁️ Software: $ESTC, $OKTA
🌏 Commerce: $PDD, $SE
💳 Payments: $PYPL, $SQ pic.twitter.com/4InbwaRc3H— App Economy Insights (@EconomyApp) November 16, 2023
Chart of the Day
Here is the ten-year chart of Chipotle Mexican Grill (CMG) as of November 1, 2023, when the stock was at $1,987.
Chipotle Mexican Grill is a quick-service restaurant that features burritos, burrito bowls, tacos, and salads using high-quality ingredients which are often organic. It has a secret recipe for growing profits, by making more money per store through a combination of (1) increasing sales per restaurant and (2) increasing profit margins in those locations.
Chipotle Mexican Grill is on the cutting-edge with new restaurant equipment. It is developing automated digital makelines to improve efficiency. Digital makelines allow restaurants to increase capacity and speed, as well as to improve accuracy. Last quarter, the company developed its first automated digital makeline and installed it at its test center to learn on. This automated line makes bowls and salads down below the regular makeline, while employees build burritos, tacos, and kids meals on top.
CMG is part of the Growth Portfolio. The company has growth opportunities in small towns across the US, in Canada, and now Europe.
