BKNG - Airlines restaurants and cruise line stocks rally as investors shift focus back to recovery
Travel and leisure stocks broke sharply higher on Wednesday as a potential meeting between the foreign ministers of Russia and Ukraine lifted sentiment that a settlement could eventually be worked out. Despite inflation and interest rate risks in the market, some analysts are pointing to the strength of the U.S. consumer and noting that even higher gas prices are likely to not be as much of a negative factor as feared on household spending trends. Advancers in the global airline sector include Gol Linhas (GOL +13.3%), Azul S.A (AZUL +12.7%), United Airlines (UAL +12.7%), Hawaiian Holdings (HA +7.1%) and JetBlue Airways (JBLU +6.9%). Travel service stocks Booking Holdings (BKNG +9.1%), Expedia (EXPE +7.9%), MakeMyTrip Limited (MMYT +8.9%) and Trip.com (TCOM +7.8%) made big jumps. Gainers in the hotel sector include InterContinental Hotels Group (IHG +6.3%), Marriott International (MAR +5.3%) and Hyatt Hotels Corporation (H +6.4%). Cruise line stocks Carnival (CCL
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Airlines, restaurants and cruise line stocks rally as investors shift focus back to recovery