French Fries & The Economy
Economic Update!
US GDP grew 2.6% in Q3, this is a broad measure for the US economy, and it shows that the economy is still growing despite all the pain!
However, Consumer Spending numbers were weak, showing evidence that a recession may be underway! Specifically, residential investment dropped 26.4% (annually)& mortgage rates toppled over 7% for the first time in 20 years!!
While I don’t believe you can ever time the market! I think it's important to keep in mind that some stocks actually do well in a recession.
For Example:
McDonalds!!!!!
🍟Ticker: MCD
The stock thrived coming out of the 08 recession!
“McDonald's posted the strongest same-store sales over the four quarters of GDP decline spanning 2008 and 2009, at nearly 4%, followed by Chipotle Mexican Grill (CMG) at 2.5%.” - Barrons
“McDonald's sales growth in 2008 was greater than in 2006 and 2007. While many restaurants scaled back, it opened nearly 600 stores in 2008.” - Slate
In other news!
Elon Musk Has officially bought Twitter, and he has already started to fire some of its top executives. : WSJ
According to the National Highway Traffic Safety Administration, 22 percent of crashes involve a vehicle making a left turn at an intersection. : The Verge