Revenge spending may keep the economy chugging along
CNN
Now that some mask and vaccine mandates are being lifted, consumers seem ready to spend on travel and other leisure experiences. Call it the "revenge spending" phenomenon.
Airline and hotel stocks have been surging this year thanks in part to a spate of long overdue revenge spending, or what some are dubbing the YOLO economy. An ETF of travel companies run by investing firm SonicShares, with the ticker symbol of "TRYP" is up nearly 6% this year while the S&P 500 has fallen 9%.
United (UAL) and American (AAL) both reported strong earnings earlier this week. Shares of Marriott (MAR), Hilton (HLT) and Wyndham (WH) are near all-time highs. Theme park owner SeaWorld (SEAS) is not far from a record high, too. And shares of cruise line operators Norwegian (NCLH) and Royal Caribbean (RCL) are both up this year despite the broader market selloff.
When the history of the Donald Trump presidencies is written, White House chief of staff Susie Wiles’ remarkable interviews with Vanity Fair are likely to figure substantially.
The House Judiciary Committee is demanding interviews with four current and former Department of Justice officials who were involved in subpoenaing phone records for several members of Congress around the January 6, 2021, Capitol attack, the day before Republicans interview former special counsel Jack Smith.
Police are pursuing a new lead based on photos and videos of an individual taken around hours before the deadly mass shooting at Brown University, authorities said today. Follow for live updates
The White House chief of staff, Susie Wiles, delivered a series of unusually candid and at times unflattering assessments of President Donald Trump, his second-term agenda and some of his closest allies in a series of wide-ranging interviews with Vanity Fair published Tuesday.
The president’s eldest son, Donald Trump Jr., is engaged Palm Beach socialite Bettina Anderson, a spokesperson for Trump Jr. confirmed to CNN.
Public displays of Jewish worship have become hunting grounds.
A law signed last month mandates that the DOJ release the Epstein files by Friday. The anticipation alone has been immensely challenging for survivors of his crimes.
President Donald Trump bragged to Pennsylvanians last week that he’d delivered an “unbelievable” economy. Now, it’s up to Vice President JD Vance to explain why they’re not yet feeling the benefits.
The Powerball jackpot rose to an estimated $1.25 billion after there were no big winners in Monday night’s drawing.
Erika Kirk, the widow of slain conservative influencer Charlie Kirk, met Monday with podcaster Candace Owens amid an intensifying public feud over Owens’ promotion of conspiracy theories surrounding Kirk’s death.
Speaker Mike Johnson is facing a possible revolt from a small bloc of GOP centrists this week over the looming expiration of Covid-era Obamacare subsidies — which will spike premiums for tens of millions of Americans in 2026.
The House Oversight Committee is offering former President Bill Clinton and former Secretary of State Hillary Clinton new deposition dates in January as part of the panel’s investigation into Jeffrey Epstein – and threatening the possibility of contempt proceedings if they do not comply.
President Donald Trump signed an executive order Monday classifying “illicit fentanyl and its core precursor chemicals” as weapons of mass destruction.