Stocks rose on Tuesday as investors awaited the outcome of the U.S. midterm elections, which could affect levels of government spending and regulation moving forward.
Overall, S&P 500 was up 0.6% to 3,828, while NASDAQ increased 0.5% to 10,616.
Tweet of the Day
Why @yardeni says he thinks the S&P bottomed on October 12th: pic.twitter.com/1kyevOaRXq
— CNBCOvertime (@CNBCOvertime) November 4, 2022
Chart of the Day
Our chart of the day is the one-year chart of Chipotle Mexican Grill (CMG) as of October 29, 2022, when the stock was at $1,505.
Chipotle Mexican Grill is a quick-service restaurant that features burritos, burrito bowls, tacos and salads using high-quality ingredients which are often organic.
The company’s management says a majority of its customers are from higher-income households, which are eating at the restaurants more often. This helped to drive CMG’s revenue and profits higher. Last qtr, the quick-service restaurant grew profits 35% as sales increased 14%. Same store sales growth grew 8%.
CMG is part of the Growth Portfolio. It has an Estimated Long-Term Growth Rate of 27%, which is very strong. David Sharek’s Fair Value P/E is getting rounded down from 45 to 42.
