The sharp decline in Chipotle stock likely may, in part, be due to its outlook, which stayed the same for fiscal 2024. Chipotle is calling for comparable same-store sales growth for the fiscal year to be in the mid-to-high single-digit range.

The Dow scorched 650 points higher on Friday after a close-enough-to-expectations print in US Personal Consumption Expenditures Price Index inflation came in cool enough to allow investors to keep hopes for a September rate cut pinned to the ceiling