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Monday, July 20, 2020 by Snacks

Extra cheesy... Domino's US sales surged 16% because it doesn't give a crust that its spots were closed for in-store dining — it thrives on the out-of-store experience: mobile-order takeout, delivery, and now even "Carside Delivery." Dom's is one of the few restaurant chains that handles its own delivery (no Uber Eats or Doordash), so it gets to keep 100% of its mobile orders. Now it's focused on opening stores closer together to improve delivery times (aka "fortressing").

Hold the Dom... Chase, Citi, Goldman, and Morgan Stanley announced expectations-smashing earnings driven by record trading revenues. But Big Banks can't celebrate those big bucks yet. Last quarter, the government's multi-trillion stimulus powered bond trading and padded consumers' wallets. But the extra $600/week in unemployment benefits is set to expire next week, and COVID re-closures are happening. Banks see so many loan defaults in their future that they set aside $30B+ to cover those expected loan losses (on top of $20B+ last quarter).

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