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Yahoo
a day ago
- Yahoo
Travelers Plan To Spend $4,600 On Vacations This Summer, Up 16% From 2024
This summer, 53% of Americans plan to take leisure summer vacations, up from 48% in 2024, according to a new report from Deloitte. Deloitte conducted two rounds of the survey, one in late March before President Donald Trump's new tariffs were announced, and one in mid-April after the tariffs were set. While plans in some areas remained the same, like how many trips Americans planned to take and how long those trips were going to be, the second round of surveys found that Americans were planning to spend less on their vacations in light of recession fears. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Maximize saving for your retirement and cut down on taxes: . Initially, the annual summer travel budget was expected to grow 21% year over year, to $4,967. In the second round, however, travelers said they only planned to spend $4,606 on vacations, up 13% from last year. Additionally, planned spending on marquee trips, those that are either bucket list items or intended to mark a specific occasion, shrank from $3,987 per trip to $3,417, just a 1% increase from last year. "We still see a strong summer travel season, but perhaps with a more frugal approach," Deloitte's transportation, hospitality and services sector leader, Kate Ferrara, told CNBC, Trending: Invest where it hurts — and help millions heal:. Those surveyed reported that they planned to alter trip length, in-destination spending, lodging type, and airfare class to make their trips more budget-friendly. For example, the average number of trips respondents have planned this summer is 3.1, but quick getaways of three nights or less comprise a large number of those planned vacations. In the same vein, 24% of travelers plan to stay with family or friends while on vacation, and 19% plan to drive to their destinations rather than take a flight. "The root of all of our hacks for saving this summer is flexibility," lead economist at travel site Hopper Hailey Berg told CNBC. Planned travel spending is also not equal across all income levels and generations, Deloitte found. Those who make over $100,000 now account for 49% of vacationers, up from 44% in 2024. Middle-income earners, who make between $50,000 and $100,000 each year, have shrunk from 37% of vacationers to 33%, while those who make under $50,000 have stayed largely the same, declining just 1% from 19% to 18%. Millennials and Gen Xers make up roughly the same share of summer travelers as last year, 29% and 24% respectively, while the number of Gen Zers has increased as boomers begin to slow down, according to the survey. Read Next: Wall Street's Missing This AI Surgical Tech — You Don't Have Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Travelers Plan To Spend $4,600 On Vacations This Summer, Up 16% From 2024 originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Miami Herald
5 days ago
- Business
- Miami Herald
Stock Market Today: Something Different: Here's Market Recon from TheStreet Pro's ‘Sarge' Guilfoyle
Happy Thursday. We're doing something a little different today. We're kicking off the Stock Market Today column with comments from Stephen "Sarge" Guilfoyle's daily Market Recon. This is the type of great analysis he provides every day over in TheStreet Pro. If the Pros don't trade blind-why should you? Cut through the noise with premium insights from TheStreet Pro It could have gotten ugly, one might have thought. The information started trickling out on Wednesday morning. It certainly wasn't pretty. There was no bouquet of flowers tossed down from on high to brighten the mood. There would be no aroma of freshly baked bread wafting across the street to disguise the wretched stench of decay. There would be no knight in shining armor that could arise from the shadows to defend the citizenry from their fears. Still, as the numbers hit publication... as viewpoints expressing pessimism spread ... equity markets hung in there, supported by demand for debt securities that suppressed yields. That suppressed interest rates. So, it was. So now, it has been written. Suddenly, after a spate of negative reports had taken stocks down from their early morning and mid-morning highs, bond traders started buying U.S. Treasuries. On Wednesday, the U.S. 10-Year note, our nation's benchmark debt security, went out paying just 4.36%, down 11 basis points for the day. The 2-Year Note yielded just 3.88% (-8 bps) by day's end. The prospect for lower interest rates going forward allowed stocks to breathe and hold their levels on a day that they might otherwise have suffered a bout of profit taking. Just a day after investors had seen the S&P 500 technically confirm last Thursday's bullish change of trend. Friday's Bureau of Labor Statistics Employment Report for May could still turn markets on their ear, Or not. The "big, beautiful bill" could pass. Or not. Talks between Pres. Trump and China's Pres. Xi could go well. Or not. Heads on a swivel, gang. Two sources of water. Clean socks. Full battle rattle. What impacted the markets on Wednesday? What's about to impact our marketplace? Let's go... Uh oh. On Wednesday morning, the ADP Report on private sector hiring for May showed just 37,000 jobs created during the month. This was the fewest jobs shown as having been created by this report for any single month in more than two years. This shows a deceleration from April's creation of 60,000 private sector jobs and badly missed the consensus view for 110,000 jobs created. This does not necessarily mean that Friday's Bureau of Labor Statistics print will be weak, but it could. Anything this ugly on Friday will not pass unnoticed by investors. The ISM Non-Manufacturing Index hit the tape at 49.9 (50 is the line in these surveys between expansion and contraction), just a few days after the ISM Manufacturing Index had crossed the tape at 48.5. The real worry for May is the component labeled "New Orders," which is the single most important item in any business survey. For the month New Orders printed at 46.4 for Services and 47.6 for Manufacturing. That's nasty. Inventories and Backlogged Orders both also showed decay. Didn't anything show expansion? Oh, you bet your tail something did. Inflation did. Prices printed at a red hot 68.7 for the services economy and a white hot 69.4 for the manufacturing economy. Does that mean that we'll see reacceleration of consumer level inflation for May? I would think this is likely. We'll almost certainly see that producer level inflation has come back to life. The Federal Reserve released their Beige Book on Wednesday afternoon. The Beige Book, for the new kids, is a central bank publication containing anecdotal economic information from across the Fed's 12 regional districts, released eight times a year ahead of policy decisions. The Fed will make its next decision on monetary policy on June 18. On overall economic activity: "Reports across the 12 Federal Reserve Districts indicate that economic activity has declined slightly since the previous report. Half of the Districts reported slight to moderate declines in activity, three Districts reported no change, and three Districts reported slight growth." Boston... "Economic activity decreased slightly overall." New York... "Economic activity in the Second District continued to decline modestly amid heightened uncertainty." Philadelphia... "Business activity declined modestly in the current Beige Book period, as it did in the last period." Minneapolis... "The District contracted slightly overall." Kansas City... "Overall activity declined moderately, driven by lower retail spending, a decline in the demand for single-family homes, and a slight contraction in manufacturing." San Francisco... "Economic activity slowed slightly." Elsewhere, Richmond, Atlanta and Chicago reported slight expansion, while Dallas, Cleveland and St. Louis reported no change in business activity. Fed Funds Futures markets trading in Chicago are now pricing in a 76% probability for a quarter-point rate cut on Sept. 17 and a 54% likelihood for another quarter-point rate cut on Oct. 29. That would be it for the year. Two more rate quarter-percentage point cuts are currently being priced in for 2026. The Congressional Budget Office, which is non-partisan, but not always correct, assessed the president's "big, beautiful bill" and reported on Wednesday its expectation that over 10 years the bill, if passed into law, would increase deficits by $2.4 trillion. There is a real concern over passage in the Senate now, with a number of fiscal conservatives fretting that the budget cuts in the bill don't go far enough and other senators showing dismay that these cuts go too far. I tend to agree with the fiscal hawks here, as that is my nature as an economist. That, my friends, is neither here nor there. What matters is that the U.S. Dollar Index traded lower on this news and that while Treasury securities showed strength due to weakness in the above economic news, that the long end of the spectrum of Treasury securities could become unanchored should the federal government continue to behave in a fiscally reckless manner. The weaker dollar would indeed be inflationary. On Wednesday, the S&P 500 closed essentially flat (+0.01%), while the Nasdaq Composite gained 0.32% thanks to a 1.39% run made by the Philadelphia Semiconductor Index. Marvell Technologies (MRVL) and ON Semiconductor (ON) led that group for the day. Otherwise, not a lot changed on Wednesday. The Dow Transports gave up 0.46%, while the small to midcap indices all gave back between 0.2% and 0.26%. Six of the 11 S&P sector SPDR ETFs closed out Wednesday's regular session in the green, led by the Communication Services (XLC) fund that only gained 0.64%. While only five of these funds closed in the red, Energy (XLE) gave up 1.95% as exploration, refining and pipeline stocks all took a pounding, and the Utilities (XLU) gave back 1.75%. Winners beat losers on the NYSE on Wednesday by just three issues. This was largely a 50/50 split. Winners did lead losers at the Nasdaq by a 6-to-5 margin. Advancing volume did take a nifty 65.5% share of composite Nasdaq-listed trade on Wednesday, but just a 45.8% share of composite NYSE-listed activity. Most importantly, on a day-over-day basis, aggregate trade contracted across NYSE-listings by 5.2% and across Nasdaq-listed securities by 3.7%. Aggregate trade across the membership of the S&P 500 also fell 9% short of the trading volume 50-day simple moving average for the index on Wednesday after falling just 4% short of that line in the sand on Tuesday. Does this render Wednesday's market as less significant that it might otherwise be? In short, technically, the answer is "yes." Price discovery is always more meaningful and more impactful when increased trading volume implies increased professional participation. Readers will see just how incredibly accurate technical analysis has been through this recent period. On Wednesday, the index, though quiet, did build on Tuesday's confirmation of Thursday's change in trend. Is Advanced Micro Devices (AMD) getting ready to make a serious run at industry leader Nvidia (NVDA) ? Is Lisa Su getting ready to make a serious run at Jensen Huang? Maybe. Check out these past few moves that largely flew under the radar: June 4th: AMD announces the acquisition of open-source software company Brium in an effort to further its prowess in generative artificial intelligence. Terms of the deal were not disclosed. May 28th: AMD announced the acquisition of silicon photonics company Enosemi to boost co-packaging and the firm's prowess in generative AI. Terms of the deal were not disclosed. May 20th: AMD announced the divestiture of its ZT Systems, which is a data center manufacturing company for $3 billion. But the firm retained ZT's 1,200-person engineering team at a cost of about $1.6 billion or $1.33 million per engineer. This should improve AMD's competitiveness in the data center GPU market. My Conclusion? AMD is back among my top 10 holdings when ranked by weighting (number 10) after a long hiatus. We skipped much of the 2024 decline. Our net basis is currently $99.91. I expect to continue to buy the stock on weakness when that opportunity arises going forward. Nvidia remains my 15th heaviest allocation. I have no plans to add. 08:30 - Initial Jobless Claims (Weekly):Expecting 230K, Last 229K. 08:30 - Continuing Claims (Weekly): Last 1.919M. 08:30 - Balance of Trade (Apr): Last $-140.5B. 08:30 - Non-Farm Productivity (Q1-F): Flashed -0.8% q/q. 08:30 - Unit Labor Costs (Q1-F): Flashed 5.7% q/q. 10:30 - Natural Gas Inventories (Weekly): Last +101B cf. 12:00 p.m. - Speaker: Reserve Board Gov. Adriana Kugler. 1:30 - Speaker: Philadelphia Fed Pres. Patrick Harker. Before the Open: (CIEN) (.52) After the Close: (AVGO) (1.57), (DOCU) (.81), (LULU) (2.60) At the time of publication, Guilfoyle was long AMD, NVDA equity. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
India.com
6 days ago
- Business
- India.com
Shares of this BSE-listed company hits fresh 52-week high today
शेयर बाजार में हाहाकार, अरबों डॉलर हुए स्वाहा Shares of BSE-listed Elitecon International surged 5 percent in Wednesday's trading session to hit an upper circuit of Rs 518.05. The upper circuit is a regulatory mechanism that restricts the upward movement of a stock's price, preventing it from being traded at a price higher than the circuit limit. The counter opened gap up at Rs 516.85 with a gain of 4.75 percent from the previous close of Rs 493.40. The momentum continued amid buying, and the stock hit an upper circuit of Rs 518.05 – also the fresh 52-week high. The 52-week low of the stock is Rs 11.02. The market cap of the company is Rs 8,281.03 crore. The scrip is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages The stock has been gaining for the last seven days, indicating a strong bullish trend in the market. It has surged 42.48 per cent in this period, which is a significant increase in a short span of time. Q4 Results Elitecon International's stock has been on a positive trajectory ever since the company announced its robust Q4 results. This strong performance may reassure investors about the company's financial health and future prospects. The company reported a 94 per cent YoY increase in net profit to Rs 12.21 crore. The net profit of the company in the same quarter a year ago was Rs 6.30 crore. Share Price History According to BSE Analytics, the scrip has given a solid return of 627 per cent in six months and nearly 400 per cent on a YTD (year-to-date) basis. The company's sales saw a remarkable growth of 170 per cent, reaching Rs 120.41 crore in the quarter under review. This significant increase, compared to Rs 44.49 crore in the March 2024 quarter, may inspire optimism about the company's future performance. Stock Market Today Meanwhile, benchmark stock indices rebounded in early trade after three days of decline tracking a rally in global markets. The 30-share BSE Sensex climbed 230.17 points to 80,967.68 in early trade. The NSE Nifty went up by 70. 25 points to 24,612.75. From the Sensex firms, Bharti Airtel, Eternal, IndusInd Bank, Maruti, Tata Motors and Bajaj Finance were the major gainers. However, Tata Consultancy Services, UltraTech Cement, Titan and ICICI Bank were among the laggards. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng were trading significantly higher. With PTI inputs
Yahoo
29-05-2025
- Business
- Yahoo
Kevin O'Leary Says The Smartest Investments He Ever Made Were The Ones He Walked Away From—'The Money I Didn't Lose Was My Biggest Gain'
Investor Kevin O'Leary may have made millions investing in businesses on 'Shark Tank,' but he's the first to admit that some of his best financial moves were the deals he never made. 'The smartest investments I ever made? The ones I walked away from,' O'Leary said in a recent post on X. 'Not every shiny pitch is a winner. Sometimes your gut tells you it's a mess, listen to it. The money I didn't lose was my biggest gain.'Don't Miss: Hasbro, MGM, and Skechers trust this AI marketing firm — Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — In a video posted with that message, O'Leary elaborated, saying, 'Sometimes you make the deals you don't do. I'm not kidding—there's so many deals that I looked at, was tempted to do, and didn't. And just waited a year later, and they were zeros.' O'Leary, known as 'Mr. Wonderful,' has invested millions into dozens of companies on the show. While some bets paid off, like his investment in a meal-kit company, Plated, which later sold for $300 million, not all pitches result in profit. One of his worst deals cost him $500,000, and it's a mistake he still remembers vividly. In a 2022 interview with CNBC, O'Leary said, 'In my stomach, I didn't feel right about it ... I ignored it, and it cost me half a million bucks.' Trending: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. He initially put $250,000 into a telecom startup. A few months later, the founder came back asking for more money. 'My gut said, 'No,'' he recalled. 'But because I knew the guy and I liked him, and he was a friend, ... I gave him another [$250,000].' That second round of funding disappeared in just 60 days. O'Leary never got a dime back. That failure wasn't just about the money. It became a turning point in how he approaches investing. 'The lesson is: Listen to your gut, because that is your experience [talking],' he told CNBC.O'Leary also pointed out a common thread in his losing deals: founders who refuse to pivot. 'They can't get out of their own way,' he said. 'They won't listen to anybody else.' He added that it's crucial to find reliable business partners and stick with them once you've made a commitment. 'You make 10 investments, you get two to three huge hits. And it pays for the other seven [failed investments],' he explained in the CNBC interview. But above all, O'Leary believes the key is knowing when to walk away. As he said on X, 'Don't invest in everything. You don't have to.' Read Next: Invest where it hurts — and help millions heal:. Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Kevin O'Leary Says The Smartest Investments He Ever Made Were The Ones He Walked Away From—'The Money I Didn't Lose Was My Biggest Gain' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-05-2025
- Business
- Yahoo
Sarasota County looking into different options for historic bridge in need of repairs
OSPREY, Fla. (WFLA) — The Blackburn Point Bridge in Osprey was built in the 1920s. It is currently listed on both the National Register of Historic Places and the Sarasota County Register of Historic Places. 'When the bridge was originally designed and constructed, the expected service life would have been 50 years, but this bridge, in 2026, will be celebrating its 100th-year anniversary in Sarasota County. It has basically served us for two lifetimes, and we have invested a lot in the bridge to make sure it could do that,' said transportation structures engineer with Sarasota County James Stock. PSTA approves first step in bringing back Cross Bay Ferry Over the last century, the coastal environment has taken a toll on the bridge, leading to repairs after repairs. Those repairs have grown to become more costly over the years because many of the parts need to be made specifically for the aging structure. Now, Stock says it is time to prepare for the future. 'We are at a point now where the repairs now need repairs. I like to say that we are putting Band-Aids on Band-Aids,' Stock said. There are three possible options on the table. The first is a no-build option, which would mean the bridge remains as is and the county continues to repair it as needed. The second option is to replace the bridge with another swing span bridge. The third option the county is looking into is building a drawbridge. Because the structure is historic, changes would need to be made to meet the modern-day requirements of the U.S. Coast Guard. Changes would include widening the channel. The Coast Guard requirements call for 90 feet. The bridge currently has a 51-foot channel. Another change would be the height of the bridge, which currently has 9.3 feet of clearance, where the Coast Guard wants at least 21 feet of vertical clearance over the water. The height of the bridge has led to failure issues in the past, including during hurricane season last year when the motor and other mechanisms ended up submerged in salt water during Hurricane Milton. County officials said public safety remains at the top of mind as they weigh possible options. 'This is one of only two ways off of Casey Key, the other being Albee Road. So yeah, this is absolutely critical to the residents for emergencies and evacuations,' Stock said. Some locals have expressed concerns about businesses in the area that could be impacted by any changes to the bridge. Others News Channel 8 spoke with hope to see the county find a way preserve the bridge. 'It sure would be great if they could figure out some way to make it safe and keep it because it is a throwback. I have only been here for five years, and I remember one of the first things I fell in love with was Casey Key in general and then that bridge was like, 'OK, that is even better.' It is just really neat. You don't see that everywhere, so it would be nice to see them save it,' said Ted Fatseas. 'I get it. I love this bridge as well, and that is why we are working with the state historic preservation office and the local historical resources to find out what is the best way to preserve this treasured piece of history. I agree, but we have to plan for the future at the same time,' Stock said. County officials plan to hold public meetings for stakeholders at some point. They could begin taking place as soon as this summer. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
