) closed higher on Friday after a volatile week. The after facing a sell-off and a brief recover, markets ended mainly flat for the week. Laffer Tengler Investments CEO & CIO Nancy Tengler joined the show to discuss recent market volatility.) shares jumped after the company posted its second quarter earnings which beat Wall Street expectations, with the company raising full-year outlook for same-store sales.
And what's amazing is that these numbers are so, so, so small, industrial is up 1.3% energy up 1.1% worse losses materials.This week here is a five day of the tech, the tech sector you can see just climbing into the green today, but it had been significantly significantly underwater as of Monday.I software did well, Chinese stocks, semiconductors, transportation and defense, which did not do well.
We are working on driving it from a net income perspective and feel really good about our path to profitability as we continue to open more profitable stores and, and continue to leverage our cost structure.Certainly, you know, I can't imagine that that the price is still the same. And so I think consumers are seeing as more and more people wake up and realize they want to eat real food that is good for them, good for the environment, but still fresh and craveable and convenient.And I think in a, in a lot of ways, our value proposition is only improving infinite Kitchen is something that has lots of investors buzzing.What sort of overall cost savings does this model present?It's something we've been working on for many years.
We do think labor is going to continue to go up and up, you know, it is going to continue to compound. Now, how many do you anticipate being in the infinite kitchen stores as a comparison point, it really depends on, on the volume of the store and at what time, but typically we're the, the entire like team on staff is about a third, a third of the number of employees needed.You know, we're mostly opening them in new stores in the, in the chances that we do a retrofit.We're able to move of employees to other locations if needed and make sure we find them their hours.
Obviously, people are learning a lot more about her and um you know, my, my, my uh economic brain sort of short circuited at this because I've gotten used to the idea if you're an incumbent in the Biden administration, uh you have to explain away inflation and until inflation basically goes to zero or uh you know, the price of hamburger falls by 50% or something like that, voters just gonna hate you.
Um, you know, what I think they're doing is I think they are just ri riding the rocket ship as far as it will take them and it is taking them pretty far so far. I think this is not that hard for Kamala Harris because on most things, she's basically just going to say I stand with Joe uh the Biden.Um We, what we'll all be paying attention to is where does she really distinguish herself from Joe Biden.It's not like uh she's vastly different on tax policy or something like that.A lot more to talk about tech stocks, outperforming the broader market today.It's good to see you.Relative sense of calm and I feel like we kind of earned it.
Mag seven is, is not really holding on to its role as the driver of the ship for market earnings and profit growth in the S and P throughout this earnings season. So think of a name like Qana Services where they're gonna be building uh the, the electrical uh uh utility that um plants, sorry, uh electric utility plants that will be powering, generative A I and also, you know, a company that is supplying uh to the data centers and that would be carrier.Um, they've raised, uh, beat, beaten, raised in many cases.Um, but if it's slowing again, these are the kind of companies you want to own that are generating reliable earnings growth.
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