Travel stocks surged on Friday — United Airlines gained 5.44%; American Airlines jumped 5.61%; Carnival soared 7.62% — a day after the Centers for Disease Control and Prevention eased mask rules for fully vaccinated people, suggesting a quick rebound in travel demand. For the week, the Dow slipped 0.74%, the S&P 500 dropped 1.30%; and Nasdaq (which plunged 5.24% in first three days through Wednesday), fell 2.34%. By industry, coal stocks topped all other sectors, gaining 4.49% for the week, while advertising services performed the worst, plunging 8.92%. Key BackgroundTraders confronted some sobering economic data this week that suggested consumers are scaling back purchases while inflation may have emerged. Further ReadingThree Stocks To Buy In The Next Stock Market Crash (Forbes)Why The Nasdaq Stock Market Is A Focal Point Now (Forbes)Here’s Why Experts Think The Stock Market Could Rip Higher As Stocks Test New Highs (Forbes)

Source: Forbes May 14, 2021 20:26 UTC