Market Recap – October 13th
When the inflation report was released, the markets witnessed one of the largest swings in recent times. After starting down more than 3 percent, the indices finished the day up big. The S&P 500 rose by 2.6%, the Dow Jones rose by 2.83%, and the NASDAQ rose by 2.23%. Although the report was negative, investors pushed for a large rally to close the day. Domino’s jumped by 10.44% to $333.26 after reporting better-than-expected sales during this inflationary period. This outweighed the fact that they missed on earnings estimates, showing what investors were truly looking for. Albertson’s rose by a similar margin, going up by 11.53% to $28.63 following news of a possible merger with Kroger.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.