The stock market closed mixed on Monday, as the market failed to sustain its momentum from the first rally of the year last week.
Overall, S&P 500 declined 0.1% to 3,892, while NASDAQ increased 0.6% to 10,636.
Tweet of the Day
My favorite monthly feature from @IBDinvestors –always helpful to see where big money is flowing. Lots of tickers to study the charts for potential WL inclusion. pic.twitter.com/pxghQ1JpjL
— Greg Morton (@gmorton512) January 7, 2023
Chart of the Day
Our chart of the day is the ten-year chart of Dollar General (DG) as of December 21, 2022, when the stock was at $245.
Dollar General offers food, snacks, beauty supplies, clothes, housewares, and seasonal items at everyday low prices. It is evolving from a dollar store to a local Walmart mini-me. Management has been renovating locations to make them newer and more efficient like building distribution centers, adding coolers for more frozen food, introducing fresh produce, putting in self-checkout machines, and installing Electronic Article Surveillance to reduce theft.
The company has been a great investment the past decade. David Sharek, Founder of The School of Hard Stocks really likes management, which expands locations, modernizes stores, improves the supply chain, thinks up new brands, buys back stock, pays a dividend, and even expands internationally. And with the US in a recession, this seems like a perfect stock to own.
DG is a top holding in our Conservative Growth Portfolio.
