Travel stocks mixed after report of drop in online bookings for May

Yahoo Finance’s Ines Ferre joins the live show to break down the stock move in early trading.

Video transcript

BRIAN SOZZI: Ines, I know you agree with all my positions, don’t you?

INES FERRE: I agree with a lot of your market take, actually.

BRIAN SOZZI: Alright, Ines!

INES FERRE: But now let’s look at what’s happening with the markets because we see the markets trying this turnaround on Tuesday. Let’s see how we end today. But we were looking at the NASDAQ which had dipped into the red earlier, currently up about 7/8 percent.

Also looking at the sectors, energy being the leader at the moment. Energy was a big loser yesterday, but still hasn’t recouped yesterday’s losses. Looking at the NASDAQ 100 as well, we see quite a bit of green here on the screen. We review Chinese ADRs. These see quite a pop.

On the travel section, I want to mention a bit of a mixed picture here. We got travel insights from Adobe Analytics that bookings, online bookings for May, were down 2.3% month-over-month. So you may be seeing a bit of demand destruction for those flights that have gone up in price so much over the year.

And then, taking a look at some of the crypto-related stocks after losing so much yesterday, Coinbase was down more than 1%, coming off its prior lows. Here we go, this one, MicroStrategy up more than 3% after a 25% drop yesterday, guys.

Previous APS Demonstrates Next-Generation Microservices Hotel and Travel Platform at HITEC Orlando 2022
Next Sounds Air to Enhance Global Distribution with Amadeus Travel Platform