Investors are enjoying the ride. With just four trading days left in october, the s p 500 is on track to close out its best month in four years. But there are a number of challenges the market has to overcome during the next few weeks and months, from the fed to profits to data. And as dominick chu reports from the new york stock exchange, many of those challenges will unfold in the coming week. This is a week thats going to be chock full of possible catalysts, possible things that could either drive the market up or down. Lets talk about whats going to happen on the big picture Macro Economic front. Youve got a lot of data coming out. Youve got durable goods coming up later on this week. Thats a sign perhaps of what people are buying in terms of things that are built to last more than just a few years. Cars, airplanes, washing machines. Youve also got of course the second day of a big Federal Reserve Central Bank Interest rate meeting. Will they or wont they raise Interest Rates . All
Investors are enjoying the ride. With just four trading days left in october, the s p 500 is on track to close out its best month in four years. But there are a number of challenges the market has to overcome during the next few weeks and months, from the fed to profits to data. And as dominick chu reports from the new york stock exchange, many of those challenges will unfold in the coming week. This is a week thats going to be chock full of possible catalysts, possible things that could either drive the market up or down. Lets talk about whats going to happen on the big picture Macro Economic front. Youve got a lot of data coming out. Youve got durable goods coming up later on this week. Thats a sign perhaps of what people are buying in terms of things that are built to last more than just a few years. Cars, airplanes, washing machines. Youve also got of course the second day of a big Federal Reserve Central Bank Interest rate meeting. Will they or wont they raise Interest Rates . All
We get a ball game like broncos and packers on nbc, that could boost Buffalo Wild Wings numbers, especially if the mets make a comeback in the world series after kansas city. Then again, you come back to labor costs, insurance costs, food costs. These are across the board issues facing all restaurants. The disappointment makes some sense. Making these more palpable, two chains got dinged today. Mcdonalds and dominos. Dominos has a monstrous 800 million buyback. Dominos is the antithesis of the typical restaurara stock because it takes franchise fees. These costs are borne by the franchises. Buffalo wild wings has higher in other words, stay away. The saving grace, as these restaurant stocks come down, they get cheaper. Im inclined to wait three or four days to get the lay of the land. Ill be speaking to Howard Schultz tomorrow morning on squawk on the street. That Company Reported what looked to be a disappointing quarter but we cant opine until we sit down and listen to the conference
Consistency. Buffalo wild wings. This has been one of the best performers of the year. A month ago they were trading at 207. Today it fell a staggering 32. More than 17 single session. What went wrong with Buffalo Wild Wings . What didnt go wrong . Samestore sales usually the key metric, showed a dramatic deceleration with franchise staurants seeing a small increase. The quarter to date, theyve only generated 2. 8 increase in sales. Analyses were expecting a 5. 5 increase. Guidance went from 13 to single digits. Ugly set of numbers. So what does this weakness in Buffalo Wild Wings portend for the rest of the group . We saw some serious pin action. Every restaurant chain got hammered. The garden, olive garden, was down. Equity, parent of ihop and applebees, fell. The already beaten down chipotot sank. Now we have to ask, is this selloff justified . Is it right . First, unlike other restaurants, except for chipotle, Buffalo Wild Wings wasnt priced for perfection. Its possible the whole b
Consistency. Buffalo wild wings. This has been one of the best performers of the year. A month ago they were trading at 207. Today it fell a staggering 32. More than 17 single session. What went wrong with Buffalo Wild Wings . What didnt go wrong . Samestore sales usually the key metric, showed a dramatic deceleration with franchise restaurants seeing a small increase. The quarter to date, theyve only generated 2. 8 increase in sales. Analyses were expecting a 5. 5 increase. Guidance went from 13 to single digits. Ugly set of numbers. So what does this weakness in Buffalo Wild Wings portend for the rest of the group . We saw some serious pin action. Every restaurant chain got hammered. The garden, olive garden, was down. Equity, parent of ihop and applebees, fell. Panera bread got obliterated. The already beaten down chipotle sank. Now we have to ask, is this selloff justified . Is it right . First, unlike other restaurants, except for chipotle, Buffalo Wild Wings wasnt priced for perf