You may want to take a look at travel stocks.
All after Delta Air lines said consumers are back to booking trips again.
In fact, the company says, “Consumer demand accelerated through the quarter, highlighted by strong spring break performance. As omicron faded, offices reopened and travel restrictions were lifted, resulting in an improvement in business travel demand and a stronger fare environment.”
That news alone is reignited beaten down travel stocks:
- Booking Holdings (BKNG), which is just starting to pivot higher from $2,150 support.
- Expedia Group (EXPE) was up $8.72 yesterday to $187.33
- JetBlue Airways (JBLU) is pivoting higher from double bottom support
- Marriott International (MAR) was up $12.30 a share
- Royal Caribbean (RCL) was up more than $3.19 a share
The list goes on…
With more folks headed out on much-needed vacations, travel stocks could rally.
Markets
- The Dow is up 45 points to 34,527
- The S&P 500 is down slightly to 4,440.25
- The NASDAQ is up slightly to 14,221
- Gold prices are down $5.68 to $1,971.52
- Bitcoin is up 3.16% to $41,056.64
- Oil prices are down $1.40 to $102.80
- The VIX is down slightly to 21.57
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Gold may still be a good bet.
Last trading at $1,971.52, gold could see $2,500 this year, says Goldman Sachs.
According to Jeff Currie, Goldman Sachs global head of commodities research, as quoted by Bloomberg, “One, you have strong investor demand for gold over concerns about inflation, recessions, and downturn in places like Europe. The second leg is central bank buying … and with the situation in Russia, they’re likely to accumulate dollars in reserves they can’t do anything with. What can they do with it? Buy gold.”
Plus, inflation data is supporting gold, too.
In addition, “Gold prices still have room to move higher even as the Federal Reserve and other central banks around the world tighten their monetary policies, according to the latest outlook from VanEck,” as reported by Kitco.com.
“In a report published Monday, Joe Foster, portfolio manager, and Imaru Casanova, deputy portfolio manager, for the investment firm’s gold strategy, said that although the Federal Reserve is looking to aggressively raise interest rates this year, including two 50-basis point hikes at the next two meetings, rising inflation will continue to keep real interest rates low through 2022.”
Insider Buying: Braze Inc. (BRZE)
Shares of BZRE were up more than 11% on a volume spike to 2.66 million, as compared to daily average volume of 620,447. All after 10% owner, ICONIQ Strategic Partners VI reported it bought 38,600 shares between $36.78 and $38 for about $1.5 million. Braze Director Douglas Pepper also bought 361,116 shares for about $13.5 million.
Currently trading well below its IPO price, Oppenheimer recently said, “We believe that demand for Braze’s services is being boosted by the privacy-tracking changes in the market. On balance, the company guided for slowing growth in the second half of its fiscal 2023. Bottom Line: The fast software-as-a-service growth and overall strength the company generated in its fourth quarter lend good support for sustainable 40%-plus revenue growth over the next few years,” as reported by Barron’s.