Chipotle Mexican Grill, Inc. CMG shares are trading higher by 1.6% to $54.47 during Thursday’s session. The stock is rising due to overall market strength, driven by strong jobless claims data.

Additionally, Chipotle last week reported second-quarter earnings. The company reported adjusted EPS at 34 cents beating analyst estimates of 32 cents and sales of $2.97 billion beating analyst estimates of $2.94 billion.

Why Economic Data Matters

Chipotle’s success is closely tied to consumer spending. The better-than-expected jobless claims data suggests a strong labor market, which typically translates to higher consumer confidence and spending power. As recession fears diminish, consumers may feel more secure in their finances, leading to increased spending on dining out, which directly benefits Chipotle.

Although Treasury yields saw a slight uptick, the broader expectation for lower or stable interest rates remains. Lower interest rates reduce borrowing costs for companies and increase consumer spending power, creating a favorable environment for retail and restaurant stocks like Chipotle.

Read Also: Wall Street Rallies As Economic Concerns Recede, Tech Flexes Its Muscles, Semiconductors Soar: What’s Driving Markets Thursday?

How To Buy CMG Stock

Besides going to a brokerage platform to purchase a share — or fractional share — of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or another instrument.

For example, in Chipotle Mexican Grill’s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, Chipotle has a 52-week high of $69.26 and a 52-week low of $35.37.

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