Transcript:
Hello, everybody, welcome to Wednesday, the S&P 500 was up a bunch today .9%. The Dow was up also about .9%. The Nasdaq really did better today with 1.2% up. And then the small caps, the Russell 2000 was actually up about 2.4% today. So really big day actually across the board fairly equal. As far as that goes, our portfolios, all of the different pieces that are in the stock side or portfolio, a vast majority did much, much better than the S&P 500. For example, today including, the semiconductor index, which we added not too long ago, which was up 2.7%. We had regional bankings, that was up 2.2% today. So really, really good stuff that’s happening.
Again, I mentioned yesterday, one of the things that happens is that these prices get driven down, and sometimes it just creates a buying frenzy. We’ll see if it holds, I still think there’s some softness in this market is trying to figure out where to go with all the different things that are happening, internationally with the virus and what have you, too. So one of the things that I’d like to talk about today, that I think is a precursor for what we really should start to see here.
So Chipotle, the Mexican Grill restaurant chain reported their earnings today. And it’s very fascinating, because if you look at it, the revenues were almost exactly as what was expected, the per store sales were almost exactly as expected, but they blew away their earnings per share number, which just means that they’re much more profitable than expected for that amount of revenue. And this is what I was talking about before, in order for a company like that, to survive this downturn, and they were closed for periods times, their sales were way, way down. They had to slim down. And so any return back to the same revenue, you’re gonna see this explosive motion in the earnings.
And so again, this is what I’m talking about, this is where the money is going to be made, in my opinion, is all of these surprises. And it doesn’t take much it takes a couple companies coming out to everybody starts to readjust their expectations, because we’re starting to see more and more of these kind of earnings, surprises to the upside. So I think that’s really exciting. Hopefully, this continues as far as that goes.
Again, we’re gonna need some patience. I think we’re still in this period right now. You know, where the bond market is trying to figure out whether we’re having inflation or not, all these different things. So, look forward to talking to you tomorrow. Thank you very much.