Travel stocks tips

Travel stocks were the best performers Monday, a day when the broader U.S stock market had its worst day in years – but don’t get too excited. Fact is, travel had front-loaded the pain. While it was Monday’s performing sector, the travel sector has been the performing group of stocks over the past week and past year. 

Good morning from Skift. It’s Friday, November 3. Here’s what you need to know about the business of travel today.

It’s been a wild ride for travel investors this year. After a strong rally to start the year, travel stocks are now on pace to close 2023 in a bear market. The Skift Travel 200, which tracks the stock market performance of the global travel industry, captures the whiplash shareholders have experienced. 

The S&P 500 index quickly captures the stock price performance of some of America’s largest companies. The Nasdaq tells us how the tech sector is doing. But – until now – there has been no index for the travel industry.

European travel stocks stumbled into some profit-taking as earnings season kicked off and extreme weather hit in July, but many investors are betting relatively attractive valuations and solid demand will keep supporting the sector.