Travel and leisure stocks bounce back from oil and war fears
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Travel, leisure and lodging stocks broke higher on Tuesday as investors latched on to hopes that higher gas prices and the European war headlines will not cut deeply into spring and summer demand. There was also a report that Ukraine's president is no longer pushing for NATO membership as a settlement requirement.
Updates from Alaska Air Group on capacity and Booking Holdings on demand early in the day were better than feared and helped to boost sentiment.
Gainers included TripAdvisor (TRIP
+13.0%), Airbnb (ABNB
+8.3%), Expedia Group (EXPE
+7.3%), Norwegian Cruise Line Holdings (NCLH
+6.9%), Lindblad Expeditions (LIND
+5.6%), Booking Holdings (BKNG
+5.6%), Carnival (CCL
+4.8%), Planet Fitness (PLNT
+7.7%), Six Flags Entertainment (SIX
+7.3%), Drive Shack (DS
+5.7%), Xponential Fitness (XPOF
+13.2%), Hilton Worldwide (HLT
+6.4%), InterContinental Hotels Group (IHG
+5.2%), Marriott International (MAR
+6.4%), Choice Hotels International (CHH
+4.3%), Hyatt Hotels (H
+5.9%), SkyWest (SKYW
+14.5%), Mesa Air Group (MESA
+11.1%), Sun Country Airlines (SNCY
+11.5%), American Airlines Group (AAL
+9.0%), Southwest Airlines (LUV
+8.1%), Allegiant Travel (ALGT
+7.2%) and Hawaiian Holdings (HA
+9.6%).
The gains today follow a weak session on Monday when oil and war concerns stoked selling pressure.