DIRS.INFO The most relevant business & tech news

☆ 3 health-care stocks are in the headlines. How the news impacts our investments
▼ + stars: | 2023-07-13 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

In April, alongside its first-quarter results, J & J raised its full-year sales guidance by about $1 billion and its earnings-per-share outlook by 15 cents. Clearing this overhang would help reduce the discount at which J & J shares to pharmaceutical peers, the firm said. The Club's take: JPMorgan's thinking on J & J aligns quite closely with our own. The dark cloud of talc lawsuits continues to keep a lid on J & J's stock price. Joaquin Duato, chief executive officer of Johnson & Johnson, at the company's headquarters in New Brunswick, New Jersey, U.S., on Thursday, April 21, 2022.

Persons: Johnson, Eli Lilly, J, Wells, Wells Fargo, Eli Lilly's, —, Eisai, Biogen, Bloomberg, we've, Jim Cramer's, Jim Cramer, Jim, Joaquin Duato, Amir Hamia Organizations: Johnson, JPMorgan, pharma, U.S ., Humana, UnitedHealth, Bloomberg, U.S, Mayo Clinic, Club, GE Healthcare, CNBC, Getty, & $ Locations: U.S, California, Wells Fargo, Rochester , Minnesota, New Brunswick , New Jersey

☆ Here's the inflation breakdown for June, in one chart
▼ + stars: | 2023-07-12 | by ( Greg Iacurci | ) www.cnbc.com time to read: +7 min

The CPI is a key barometer of inflation, measuring prices of anything from fruits and vegetables to haircuts and concert tickets. Hourly earnings increased 0.2%, on average, from May to June after accounting for inflation, according to BLS data. 'Encouraging' inflation signals moving forwardThe inflation slowdown has been broad-based, Zandi said. watch nowGrocery price inflation is also down significantly from its peak around 14% last summer, which had been the highest rate since 1979. Economists say it's a near certainty that housing prices will continue to fall through the second half of the year.

Persons: Michael M, Mark Zandi, Zandi, we're, Mark Hamrick, Andrew Hunter, Ben Bernanke, Olivier Blanchard, Stephanie Roth, Roth Organizations: Lincoln Market, Santiago, Getty, U.S . Bureau of Labor Statistics, Moody's, BLS, Capital Economics, Finance, U.S . Federal Reserve, Peterson Institute for International Economics, Morgan Private Bank Locations: Brooklyn , New York, U.S, Ukraine

☆ US economic activity rose slightly in recent weeks, Fed survey shows
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +5 min

July 12 (Reuters) - U.S. economic activity increased slightly in recent weeks, with slow growth seen continuing in coming months, according to a Federal Reserve report published on Wednesday that also offered further indications of abating inflation pressures. "Overall economic expectations for the coming months generally continued to call for slow growth," the Fed said. Meanwhile, the report largely dovetailed with other recent data suggesting upward pressure on prices was softening. Credit standards tightened for all loan types, and loan spreads continued to narrow." Data since the June 13-14 meeting have shown an economy still growing despite expectations that the 5 percentage points of Fed rate increases over the last year or so would tip it into recession.

Persons: Price, Dan Burns, Paul Simao, Andrea Ricci Organizations: Federal, Richmond Fed, New York Fed, San Francisco Fed, Employers, Labor, Thomson Locations: U.S, New York

☆ Amazon's Prime Day off to a strong start, early data shows
▼ + stars: | 2023-07-12 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

Amazon 's Prime Day is off to a strong start, lifting third-party sellers' and other retailers' online sales, early data shows. Prime Day kicked off Tuesday and runs through Wednesday. As of midday Wednesday, Prime Day shoppers spent more per order, with an average order size of $56.07, compared with $53.14 a year ago, according to data from Numerator. The strong preliminary Prime Day sales data is the latest indicator that consumer spending may be more resilient than feared. Amazon doesn't typically provide sales data from Prime Day.

Persons: Fahim Naim, eShopportunity, Naim, Mike Scheschuk, I've Organizations: Adobe Analytics, Amazon, Walmart, Target, Adobe, Apple, Advisory, Scout, Prime Locations: U.S

☆ The US labor market cooled off in June, adding just 209,000 jobs
▼ + stars: | 2023-07-07 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

Minneapolis CNN —The US job market cooled back down in June, adding just 209,000 jobs, and fueling optimism that the economy is on course to nail that elusive soft landing of lowering inflation without triggering a recession. That being said, last month’s job growth still outpaces the pre-pandemic average. “The job growth is slowing, but I don’t actually think that’s necessarily a bad thing,” Rucha Vankudre, senior economist for labor market analytics company Lightcast, told CNN. “In the tug of war between the labor market and the economy, there is still a push and pull, yet the labor market remains strong,” Becky Frankiewicz, president and chief commercial officer of ManpowerGroup, said in commentary issued Friday. In June, sectors such as government, as well as health care and social assistance, saw the biggest job gains: 60,000 and 65,200, respectively.

Persons: Rucha Vankudre, We’re, Becky Frankiewicz, ManpowerGroup, “, Lightcast’s Vankudre, ” “, Joe Brusuelas, ” Brusuelas, “ We’re, ” Organizations: Minneapolis CNN, Bureau of Labor Statistics, CNN, “, Federal Reserve, Service, BLS, RSM, Fed Locations: Minneapolis

☆ Germany's economy is stagnating. And these 5 charts show how
▼ + stars: | 2023-07-07 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +6 min

But a faltering gross domestic product isn't the only figure that suggests that the German economy is stuttering. Germany's inflation rate is expected to hit 6.4% for June, according to provisional data from the German statistics office, which is an increase from the 6.1% recorded for May. Expect maybe for the second half that inflation might come down to a certain extent," Joachim Nagel, president of Germany's central bank, the Bundesbank, told CNBC in March. "What the fiscal authority can do in the face of high inflation is to alleviate the pain of inflation on the most fragile citizens," he said. The German economy has already recouped half of the losses in terms of trade incurred over the last two years and the energy crisis," he added.

Persons: Joachim Nagel, Sylvain Broyer, Volker Wieland, Veronika Grimm, Alexander, Universität, Broyer, China's, Robert Habeck Organizations: Anadolu Agency, Getty, CNBC, European Central Bank, Energy, Goethe University, Allianz, Reuters, Friedrich, country's Locations: Germany, Europe, Ukraine, Frankfurt, Universität Erlangen, Nürnberg, China, Beijing

☆ Ford auto sales rise on robust demand, improved supply
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

July 6 (Reuters) - Ford Motor Co (F.N) on Thursday followed rivals in reporting a rise in second-quarter U.S. auto sales, driven by easing supply chain snags and pent-up demand for personal transportation. Industry-wide U.S. new vehicle sales in June were 1.37 million units, with an annual sales rate of about 15.7 million, according to data released by Wards Intelligence on Wednesday. Ford's quarter was powered by a 26% jump in truck sales, one of the company's main profit drivers. Sales of the electric version of the company's popular F-150 truck more than doubled to 4,466 vehicles from last year. However, Ford's overall EV sales fell 2.8% to 14,843 vehicles amid lingering supply snags.

Persons: Ford, Detroit's, Pratyush Thakur, Maju Samuel Organizations: Ford Motor, Industry, Intelligence, Wall, Thomson Locations: U.S, United States, Canada, Japan, America, Bengaluru

☆ 6 Paris Bistros to Try Now
▼ + stars: | 2023-07-06 | by ( Alexander Lobrano | ) www.nytimes.com time to read: +1 min

Paris has recovered its scents, and the city is suddenly ravenous. The whiffs of shallots sautéing in butter, bread baking, meat roasting and bouillon simmering that invisibly punctuate any stroll in this food-loving city are back. “I think it’s a carpe diem thing,” said Ezéchiel Zérah, the Paris-based editor of two popular French food publications. Some of them are pointedly traditional — the delightful Bistrot des Tournelles in the Marais, for example — while others offer a refined contemporary take on bistro cooking, notably the just opened Géosmine in the 11th Arrondissement. “No wants tweezer cooking anymore,” said Thibault Sizun, the owner of Janine, an excellent new modern bistro in Les Batignolles, a neighborhood in the 17th Arrondissement.

Persons: bouillon, ”, Ezéchiel Zérah, “, Thibault Sizun, Janine Locations: Paris, Marais, 11th, Les Batignolles, 17th Arrondissement

☆ US new vehicle sales rise on strong demand, better supply
▼ + stars: | 2023-07-05 | by ( Pratyush Thakur | ) www.reuters.com time to read: +2 min

Vehicle production took a hit after the pandemic disrupted supply of semiconductor chips and other raw materials, hurting automakers' ability to meet the upsurge in demand for cars, trucks and SUVs. Toyota Motor's (7203.T) North America unit reported a 7.13% rise in U.S. sales to 568,962 units for the quarter ended June. Auto giant General Motors (GM.N), however, surpassed Toyota in the quarter, with a near 19% rise to 691,978 units in the United States. Earlier in the week, FCA US, a unit of Stellantis (STLAM.MI), reported a 6% increase in total U.S. sales. Power and GlobalData estimate total U.S. auto sales to reach 4,116,600 units in the quarter ended June, up 18.2% from a year earlier.

Persons: Cox, Jonathan Smoke, Toyota Motor's, J.D, Pratyush Thakur, Shivansh, Pooja Desai, Shilpi Majumdar Organizations: Toyota, Auto, General Motors, FCA, Tesla Inc, Thomson Locations: United States, America, Bengaluru

☆ Rolling recession to rolling recovery? Ed Yardeni says a unique factor has cushioned the economy
▼ + stars: | 2023-07-05 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

The U.S. economy has shifted from a "rolling recession" to a "rolling recovery," according to market veteran Ed Yardeni. Instead, it has experienced what the head of Yardeni Research calls a "rolling recession" — various industries being hit at different times since early last year. In addition, one unique factor influencing the U.S. economy is the large-scale fiscal stimulus, like the Inflation Reduction Act, implemented before an actual recession, according to Yardeni. When questioned about the strength of this recovery, Yardeni confirmed that he'd doubled his growth forecast for the second quarter. Don Mason | Tetra Images | Getty ImagesThe U.S. economy has shifted from a "rolling recession" to a "rolling recovery," according to market veteran Ed Yardeni.

Persons: Ed Yardeni, Yardeni, CNBC's, he'd, Don Mason Organizations: Federal Reserve, Yardeni Research, Goods, Consumers, Deutsche Bank Locations: U.S

2 oil exporter, said shortly after the Saudi announcement that it would cut crude shipments by 500,000 bpd for August. Taken together, the Saudi and Russian moves mean that the total output cuts pledged by members of the OPEC+ producer group are 5.16 million bpd, or about 5% of daily global demand. The subtext to Saudi calls for stability and balance is that the kingdom wants to keep oil prices at a level it deems high enough. The allocation of additional crude import permits is a factor that could keep crude imports strong in the second half, but it's likely that much will depend on crude prices. This level of stockpile building gives China's refiners options should crude oil prices rise as OPEC+ cuts output.

Persons: refiners, Jamie Freed Organizations: Saudi, Brent, Organization of, Petroleum, International Energy Agency, Refinitiv Oil, Reuters, Thomson Locations: LAUNCESTON, Australia, Saudi Arabia, Russia, Saudi, OPEC, Russian, CHINA, Beijing, China

Representative Blake D. Moore, Republican of Utah, is pushing for changes to federal law that would allow more nonstop flights between Ronald Reagan Washington National Airport and Salt Lake City. Those flights, he said, would increase tourism between Utah and the nation’s capital. They would also offer Mr. Moore a more efficient commute. “We need more direct flights out of DCA,” he said. In recent weeks, dozens of lawmakers have joined the push for 28 new round-trip flights per day at Reagan National.

Persons: Blake D, Moore, Ronald Reagan, ” Organizations: Republican, Ronald Reagan Washington National Airport, Capitol, Delta Air, Reagan National, Little League, Reagan Locations: Utah, Ronald Reagan Washington, Salt Lake City, Washington

☆ With a record number of travelers expected to drive this July 4, here's how to save on gas
▼ + stars: | 2023-07-03 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

A record 43.2 million people are expected to travel by car this July 4 holiday, according to AAA, the motoring and leisure travel membership organization. The good news for those drivers is that gas prices around the country are lower than they were last year. The national average for a gallon of gas is $3.54 as of July 3, down from $4.81 one year ago, according to AAA. Last year's high prices prompted politicians on the state and federal level to call for gas tax holidays. A recent Bankrate survey found 63% of adults plan to take a summer vacation this year, up from 61% last year.

Persons: Ted Rossman Organizations: AAA, Finance, Social Security

Waits for renewals have increased from 11 weeks to 13 weeks. US passport renewal services are facing increased wait times this month as travelers gear up for Summer vacations. Processing times for routine passport renewals are now up to 13 weeks, with expedited services also increased to 7-9 weeks, according to the State Department website. Expedited passport renewal services are reserved for travelers whose departure dates are within less than 11 weeks away from the time of application and cost an additional $60. The agency has been slowly rolling out an online passport renewal option since August, with the latest application window closing earlier this month.

Persons: Waits, ” Antony Blinken, haven't, it's Organizations: State Department, Street, Passport Information

☆ China new home prices edge down in June for second consecutive month
▼ + stars: | 2023-07-01 | by ( ) www.reuters.com time to read: +1 min

BEIJING, July 1 (Reuters) - New home prices in China edged down in June from the previous month, marking a second straight month of declines, and housing sales are likely to remain weak over the summer when demand is usually at a low ebb, according to a private survey. "In the first quarter, market confidence, driven by a concentrated release of pent-up demand, gradually returned and prices appeared to be recovering," the real estate research firm said. "In the second quarter, the pace of market recovery slowed and there was not enough momentum for prices to rise," it added. "If policy support is limited, it will be difficult for home buyer confidence to improve," China Index Academy said. The property sector accounts for a roughly a quarter of China's economy.

Persons: Sophie Yu, Brenda Goh, Edwina Gibbs Organizations: China Index, China Index Academy, Thomson Locations: BEIJING, China

☆ Corporate agitators slow down in Q2 but ready to pounce in H2 -Barclays data
▼ + stars: | 2023-06-30 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

Investors, bankers and lawyers expect a busy second half where activists may become more involved in trying to jumpstart mergers and acquisitions (M&A). "Volatile markets and depressed M&A markets are not deterring activists from launching campaigns in 2023," said Jim Rossman, global head of shareholder advisory at Barclays. In the second half, Barclays' Rossman expects to see a market with pent-up demand for M&A and $1.4 trillion parked in private equity firms' war chests that needs to be put to work. "The proof is in the pudding in the 2023 proxy season," Rossman said. "Activists won seats at 80% of proxy contests that went to a final vote, compared to 33% in 2022."

Persons: Jim Rossman, ValueAct, Carl Icahn, Francis deSouza, Elliott, Rossman, Svea Herbst, Bayliss, Jamie Freed Organizations: YORK, Elliott Investment Management, Capital, Legion Partners, Barclays, Holdings, Inclusive, Partners, Bayer, Reuters, Capital Management, Svea, Thomson Locations: Europe, Asia, United States

☆ Key Fed inflation measure shows prices rose just 0.3% in May
▼ + stars: | 2023-06-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Inflation pressures eased slightly in May as consumer spending slowed considerably, according to a Commerce Department report released Friday. When including the volatile food and energy components, inflation was considerably softer — up just 0.1% on the month and 3.8% from a year ago. While inflation pulled back a bit, spending rose just 0.1% for the month, below the 0.2% estimate and a sharp drop from the 0.6% increase in April. That came as goods prices decreased 0.1% while services rose 0.3%. Energy prices fell 3.9% while food prices were up just 0.1%.

Persons: Dow Jones, Jeffrey Roach, Jerome Powell, Raphael Bostic Organizations: Commerce Department, Federal Reserve, LPL, Atlanta Fed, Traders, Fed, Commerce Department's

☆ China's previous monetary stimulus 'just isn't working,' a private survey shows
▼ + stars: | 2023-06-30 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

"For months, analysts have pumped the idea that Beijing has little choice but big-bang monetary easing," said Leland Miller, chief executive of China Beige Book. Shehzad Qazi Managing director, China Beige BookAs the report pointed out, "We already have monetary stimulus, it just isn't working." Major Wall Street banks — from Goldman Sachs and Bank of America to UBS and Nomura — recently cut their China growth projections. China Beige Book's survey involved 4,604 respondents in China across two periods: in mid-April, and from mid-May to mid-June. Derek Scissors Chief economist, China Beige Book

Persons: Leland Miller, it's, Shehzad Qazi, Goldman Sachs, Premier Li Qiang, Derek Scissors Organizations: Getty, People's Bank of China, China, Bank of America, UBS, Nomura, realtors, Premier Locations: China, Beijing, U.S

☆ The Fed’s favorite inflation gauge shows prices rose just 0.1% last month
▼ + stars: | 2023-06-30 | by ( Alicia Wallace | ) edition.cnn.com time to read: +6 min

Minneapolis CNN —The Federal Reserve’s preferred inflation gauge cooled off last month, and consumers reined in some spending as the economy slows, according to data released Friday by the Commerce Department. Personal spending ticked up by just 0.1%, a more moderate pace than April’s revised 0.6% growth rate. When adjusting for inflation, consumer spending was flat. Consumers refill the coffersThe data in recent months shows a gradual cooling in consumer spending, Gregory Daco, chief economist at EY-Parthenon, told CNN. “There were no fireworks within the Fed’s favorite inflation report today,” George Mateyo, chief investment officer for KeyBank, wrote in a statement.

Persons: Diane Swonk, ”, Gregory Daco, “ It’s, Friday’s, Abby Omodunbi, Janet Yellen, Yellen, ” Yellen, ” George Mateyo, KeyBank, Swonk, it’s, we’ve Organizations: Minneapolis CNN, Commerce Department, CNN, “, PNC, Fed, Transportation Locations: Minneapolis, EY, New Orleans

June 29 (Reuters) - AIP Capital said it was in talks to pick up a 10% stake in Eastar Jet as the aviation asset management arm of U.S.-based private equity firm 777 Partners seeks to tap into the travel resurgence in Asia. AIP would also lease five Boeing 737 MAX 8 jets to the South Korean low-cost airline, it said without disclosing the additional terms of the deal, which is expected to close mid-July. In 2021, Eastar Jet had filed for court receivership as the COVID-19 pandemic battered the travel industry. Earlier this year, South Korean private equity firm VIG Partners bought the airline and agreed to inject 100 billion Korean Won ($75.98 million) into the carrier, according to a DealStreet report. Separately, AIP announced that it has closed a minority investment and joint venture agreement with consulting and investment firm Dreamstone Aviation Partners.

Persons: Eastar Jet, Jared Ailstock, 1,316.2100, Abhijith, Shilpi Majumdar Organizations: AIP, Jet, Partners, Boeing, South, VIG Partners, Won, Dreamstone Aviation Partners, Thomson Locations: U.S, Asia, Dreamstone, Bengaluru

☆ Italy may have dodged a ‘pasta strike’ but food inflation is still high. Here’s why
▼ + stars: | 2023-06-29 | by ( Anna Cooban | ) edition.cnn.com time to read: +8 min

But it shelved the plan, citing “noticeable” falls in pasta prices. Pasta prices dipped in May compared with April, though provisional official data released Wednesday showed that they ticked up again this month. Broader food price inflation, albeit slowing, is still high in Italy and elsewhere. Concerns have grown that retailers and food producers are deliberately keeping prices high to boost profit margins — claims they strenuously deny. That meant they had “locked in higher prices” for longer, he told a gathering of central bankers in Portugal.

Persons: Danni Hewson, AJ Bell, Pasta, Remo Casilli, Andrew Bailey, “, Mintec, Andrew Woods, ”, Jack Allen, Reynolds, That’s, Christine Lagarde, ” Nestlé, ” Lagarde, Jeremy Hunt, —, Cristiano Laurenza, ” — Valentina Di Donato, Hanna Ziady Organizations: London CNN, CNN, ”, Bank of England, Labor, European Union, Capital Economics, European Central Bank, Wednesday, Competition, Markets Authority, Unione Italiana Food Locations: Italian, Italy, United Kingdom, United States, France, Germany, Russia, Ukraine, Cecco's, Fara San Martino, Portugal, Europe, European, “, Sweden

☆ Delta lifts profit view on strong travel demand, lower fuel costs
▼ + stars: | 2023-06-27 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +2 min

CHICAGO, June 27 (Reuters) - Delta Air Lines (DAL.N) said on Tuesday it expects full-year profit per share at the high-end of its prior forecast on sustained travel demand. Shares rose about 1% in premarket trading as the Atlanta-based carrier also lifted its expectation for annual free cash flow ahead of its investor day. But with no let-up in travel demand, mainly for overseas trips and a moderation in fuel costs, analysts have revised upwards Delta's profit estimates. In a sign of growing confidence in its ability to generate free cash flow, Delta this month reinstated its quarterly dividend, which it had suspended in March 2020 during the pandemic. The company raised its free cash flow outlook for 2023 to $3 billion compared to more than $2 billion that it had forecast earlier.

Persons: Daniel McKenzie, Stephen Trent, Rajesh Kumar Singh, Shivansh, Jamie Freed, Arun Koyyur Organizations: Delta Air Lines, Delta, Seaport Research Partners, Citi, Thomson Locations: Atlanta, U.S, North America

Recessions haven't always resulted in declining stock markets, and good opportunities can be found amid them. Sectors for recession naysayersThe best sectors for recession disbelievers are the most economically sensitive ones: industrials, materials and financials. Well-positioned companies with good growth prospects currently include: Corteva, Dow Chemical, Ecolab, Linde plc, Martin Marietta Materials, Nucor Corp., PPG Industries and Sherwin-Williams. Currently buyable names include: Campbell Soup Co., General Mills, The Hershey Co., Kellogg's, Kimberly-Clark Corp., Kroger, Procter & Gamble and Walmart. Sector names with reasonable risk levels and good growth prospects include: Vertex Pharmaceuticals, IDEXX Laboratories, DaVita Inc., Veeva Systems Inc., IQVIA Holdings Inc., Cigna Group and Zoetis Inc.

Persons: Sherwin, Williams, Mayur, Martin Marietta, JPMorgan Chase, Rowe Price, Willis Towers Watson, Campbell, General Mills, Clark, Willie B, Thomas, Digitalvision Organizations: Westend61, University of Michigan Consumer, Investors, Westinghouse Air Brake Co, Cummins Inc, CSX, Emerson Electric, Otis Worldwide, Carrier, Caterpillar, Honeywell, Illinois Tool, Lockheed Martin Corp, Dow Chemical, Ecolab, Linde plc, Martin, Martin Marietta Materials, Nucor Corp, PPG Industries, XLF, JPMorgan, Rowe Price Group Inc, American International Group, Allstate, The, McLennan, Sectors, Co, Hershey Co, Clark Corp, Kroger, Procter, Gamble, Walmart, Getty Images Health, iShares U.S, Medical Devices, Vertex Pharmaceuticals, IDEXX Laboratories, DaVita Inc, Veeva Systems Inc, IQVIA Holdings Inc, Cigna, Zoetis Inc Locations: American, The Hartford, Marsh, Kimberly

With some 1.6 million of those due to re-fix mostly 2-5 year fixed rate deals over the next 18 months - half of those by the end of this year - this super-hike will burn. Two-year fixed mortgage rates have doubled to 6% in just 10 months and were less than 1% two years ago. Fixed-rate deals were only introduced at all in 1989 and the vast majority were floating rates until just eight years ago. As Leaviss points out, five-year inflation expectations in the bond market are still stubbornly one percentage point above the 2% goal. In the end, the BoE has few good choices - but the days of fine tuning the economy with nudges and tweaks may be over.

Persons: BoE, that's, Moyeen, Jim Leaviss, Vivek Paul, Paul, Leaviss, Mike Dolan, Naomi Rovnick, Conor Humphries Organizations: Bank of England, National Institute of Economic, Social Research, Reuters Graphics Reuters, Reuters, Barclays, Bank, Investment, BlackRock Investment Institute, OECD, Twitter, Thomson Locations: United States, Germany

☆ Here’s how Americans are booking their summer trips this year despite inflation
▼ + stars: | 2023-06-22 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

Americans are eager to travel this summer despite inflation-strapped budgets. The overall price of travel is up 16% from this time in 2019, according to the NerdWallet Travel Price Index. Car rental prices peaked in July 2021, according to NerdWallet, and have been consistently declining. Moreover, more than 60% of adults intend to travel for the July 4 weekend. International travel is particularly popular this summer, primarily due to pent-up demand, as this is the first summer without Covid-related travel restrictions, Berg said.

Persons: Hopper, Hayley Berg, Read, Berg Organizations: Finance, Amazon

Search resuls for: "pent"

25 mentions found