Tuesday, May 19, 2020

Airlines and Hotels

U.S. stocks staged a strong, broad rally on Monday, with some of the most beaten-down industry groups staging a bit of a comeback. The S&P 500 airlines industry group surged 14.3 percent as data from the Transportation Security Administration showed air passenger traffic had risen for four straight weeks. United Airlines was up 21.1 percent, the biggest gainer in the entire S&P 500.

Riding on the coattails of the airlines was the S&P 500 hotels, resorts and cruise lines industry group, which leapt 13.4 percent on the day. Expedia was the S&P's second-biggest winner, climbing 18.6 percent.

But things aren't quite back to normal yet. The S&P 500 airlines as a group are still down 61 percent this year, while the hotels, resorts and cruise lines industry group is down 51 percent for 2020, according to FactSet.

No comments:

Post a Comment