The three major U.S. indices enjoyed a second straight day of gains on Thursday as Wall Street continues to hope for further stimulus.
House Speaker Nancy Pelosi indicated there would be no stand-alone relief bill for airlines, something the GOP has been pushing for, instead she called for the relief to be part of a wider aid package.
Whether any agreement will be reached before elections in less than a month is unclear. Regardless, the Dow Jones Industrial Average rose 122 points, or 0.4%, to finish at 28,425 on Thursday.
Domino’s declines. Domino’s Pizza (ticker: DPZ) has been one of the standout stocks of 2020, as the company’s digital presence and delivery infrastructure has reaped big rewards with consumers stranded at home.
That said, DPZ’s rise has also raised expectations for shares, and Thursday’s earnings announcement wasn’t able to stack up to those elevated predictions. Higher costs related to the pandemic caused Domino’s to report a lower-than-expected profit in the last quarter; earnings per share came in at $2.49 versus expectations for EPS of $2.79.
Even after falling nearly 7% on Thursday, DPZ stock is still up more than 36% in 2020 alone.
Marijuana stocks flying high. Weed stocks rose on Thursday following Wednesday’s vice presidential debate in which Sen. Kamala Harris pledged to decriminalize marijuana. Some of the market’s biggest pot stocks took kindly to that endorsement, as former Vice President Joe Biden currently leads President Donald Trump in mainstream polls, making the vow by Harris, a meaningful bit of information for shareholders.
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