These travel and leisure stocks are gaining because vacations are still a go
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The airline sector ripped gains on Tuesday after a round of Q1 guidance updates indicated strong booking trends in March and confidence in second half profitability. Top gainers were Frontier Group (ULCC
+10.7%), Delta Air Lines (DAL
+8.7%), United Airlines (UAL
+8.1%), American Airlines Group (AAL
+8.2%), Spirit Airlines (SAVE
+8.7%) and JetBlue Airways (JBLU
+7.5%).
Travel and leisure stocks in general saw gains with inflation and gas price fears fading ever so slightly with Americans expected to spend right through the inflation-heavy summer months.
Travel service stocks like Travelzoo (TZOO
+4.4%), Booking Holdings (BKNG
+3.5%) and Airbnb (ABNB
+3.4%) were up in early trading.
Cruise line stocks Carnival (CCL
+4.8%), Norwegian Cruise Line Holdings (NCLH
+5.7%) and Royal Caribbean (RCL
+4.2%) all broke higher.
Theme park stocks Six Flags Entertainment (SIX
+2.3%), Cedar Fair (FUN
+2.4%) and SeaWorld Entertainment (SEAS
+2.3%) were also notably higher.
Lodging stocks Wyndham Hotels & Resorts (WH
+3.9%), Marriott Vacations Worldwide (VAC
+2.5%) and Choice Hotels International (CHH
+2.6%) were also strong.
In the casino sector, the standouts were regionals Century Casinos (CNTY
+5.0%), Red Rock Resorts (RRR
+4.2%) and Boyd Gaming (BYD
+3.9%).
Broad market update: Nasdaq, S&P 500, Dow Jones rise as oil falls, inflation cools a little