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Entertainment-related stocks rose sharply in afternoon trading on Wednesday, as investors generally believed a debt deal could be worked out ahead of a default scenario. The White House has confirmed a report that Biden will cancel his trip to Australia and Papua New Guinea and will return to the US on Sunday to oversee more congressional meetings to avoid the June 1 X-Day.
Consumer discretionary stocks outperformed the broader market as more data emerged on rising leisure and travel spending trends. It follows generally positive comments about incoming calls on travel and entertainment needs.
Airline stocks rose in Mesa Air Group (MESA). + 11.48%Hawaii Holdings (HA) + 6.25%Frontier Group (ULCC) + 6.20%Faithful Journey (ALGT) + 6.09%and Delta Air Lines (DAL). + 6.01% Seeing the biggest advantage in the sector.
Cruise Line Shares Carnival (CCL) +7.55%Norwegian Cruise Line Holdings (NCLH) + 6.54%Royal Caribbean (RCL) + 4.44%and Lindblad Travels (LIND) 5.33% They were in parade mode.
Casino Shares Bally (BALY) +8.38%Studio City International (MSC) +7.82%Wynn Resorts (WYNN) +7.35%PENN Entertainment (PENN) + 6.82%Las Vegas Sands (LVS) +3.69%and Melco Resorts and Entertainment (MLCO). +3.46% All high and broken.
Sports Stocks Topgolf Callaway (MODG) +3.95% and Escalade (ESCA) +2.28% Both are up.
Theme Park Shares Six Flags Entertainment (SIX) +3.71% and SeaWorld Entertainment (SEAS). + 3.15% They were slightly higher.
Travel Service Shares Saber (SABR) + 10.20%Despegar.com (DESP) +8.58%and Expedia (EXPE) +3.01% He also rose.
Read more about Wednesday’s broad market rally
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