Today in the Market (2/26/2024)

Good Morning! On Monday, U.S. equities had a slow day, as investors prepared for an upcoming inflation report that might challenge the recent market surge.

The NASDAQ started out in the green, but fell short by 0.13%.  The Dow Jones decreased by 0.16% and the S&P 500 dropped the most by 0.38%.


Domino’s Pizza (DPZ) released its fourth quarter and full-year 2023 financial results before the market opened, surpassing profit forecasts. On top of that, Domino’s increased its quarterly dividend by 25%, raising its annual dividend yield to around 1.3%.

More options, just like their pizza! One factor contributing to the ongoing expansion is the collaboration with Uber (UBER). Customers are now able to use the Uber Eats app to place delivery orders from Domino’s. The company aims to attract wealthier homes and increase sales via this delivery method

What else helped? In 2023, the reward program gained 3 million new members, with over 2 million joining after the program was revamped. CEO Russell Weiner said during the post-earnings call that it was also generating extra profit from franchisees



Most unionized workers at Kroger (KR) and Albertsons (ACI) stores welcomed the U.S. Federal Trade Commission’s action to prevent the $24.6 Billion retail merger, as they feared potential reductions in salaries and increases in pricing at the merged grocery chain.

But why? A coalition of UFCW locals collectively praised the case, stating that the FTC acknowledges the potential harm the merger might have caused. And it is no small group. Since its announcement in October 2022, the union, representing over 100,000 Kroger and Albertsons employees, has consistently opposed the agreement.

What is the other side, though? Kroger said that it has a demonstrated history of supporting unions by creating over 100,000 union positions since 2012. A Kroger representative said the only beneficiaries of the merger being prevented would be bigger, non-unionized businesses that are opposed to union expansion.


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