The stock market ended Monday mixed as investors looked ahead to key inflation data and corporate earnings this week.
Overall, S&P 500 was slightly up 0.1% to 4,109, while NASDAQ was flat at 12,084.
Tweet of the Day
The extremely rare Zweig Breadth Thrust just triggered.
It has only happened 14 other times since 1950 and the S&P 500 was higher a year later. every. single. time.
Up more than 23% on average a year later as well.
— Ryan Detrick, CMT (@RyanDetrick) April 9, 2023
Chart of the Day
Here is the one-year chart of Domino’s Pizza (DPZ) as of March 22, 2023, when the stock was at $312.
Domino’s is the world’s #2 pizza chain and #1 pizza delivery chain, with more than 18,800 locations in over 90 markets around the world. Around 98% of stores are owned and operated by franchisees. The company generates sales and profits by charging franchisees royalties and fees as well as selling them food, equipment, and supplies. Domino’s is the largest pizza company in the world, based on global retail sales.
The company is dealing with high competition from the likes of DoorDash, GrubHub and UberEats. There isn’t much the company can do about it, as these other food delivery companies offer vast varieties of different types of food, while Domino’s is more of a pizza place.
DPZ stock has been hurting for the past year as people are back to eating out again post-COVID. In its earnings call, management said it saw “softening demand from delivery customers…given the challenging macroeconomic environment during the holidays”.
DPZ is part of the Conservative Growth Portfolio.
