Stocks rallied last month as investors reacted to signs that inflation is coming down and that the Federal Reserve could start slowing its pace of interest rate hikes as soon as next week when the Federal Open Market Committee meets. Of the three major indexes, the Dow Jones Industrial Average (DJINDICES: ^DJI) finished the month up 5.7%, outperforming the S&P 500 and the Nasdaq Composite, as shown in the chart below shows. Two high-profile consumer names were the worst performing of the bunch: Disney (NYSE: DIS) and Apple (NASDAQ: AAPL).
When Walt and Roy Disney were dreaming up their plan to transform 25,000 acres of Florida swampland into a utopian city and theme park in the mid-1960s, they wanted none of the oversight they faced from California authorities when they built Disneyland. Among the extraordinary rights granted to Disney by the Florida legislature in 1967 was the ability to construct a nuclear power plant and an airport on the property. Disney never built the power plant or the airport around Disney World.
Lovesac's (NASDAQ: LOVE) modular couch concept has been a big hit with consumers, but you wouldn't know it by looking at the stock's performance. Shares of Lovesac are down 60% year to date, and trade at a cheap valuation of less than 10 times this year's earnings estimates. In September, the company reported a 45% year-over-year sales increase for the second quarter, which ended in July.