Zoetry

The DJIA rose 2 points while Nasdaq was down 56, the S&P 500 fell 7 points and the 10 year treasury yield plunged another .11 to 3.41%. Lodging stocks were mixed. MCG was the big mover, down -8% while VCSA traded down to another new low before bouncing a bit. Morgan Stanley cut their rating on Airbnb to Underweight from Equal Weight, slashing its target price to $80 […]

Equity investors were once again willing to give the Federal Reserve Board the benefit of the doubt on the 0.75% rate hike today but then Fed Chief Powell held a press conference and it got ugly pretty quickly. By the close the DJIA was down 522 points, Nasdaq was down 205, the S&P 500 fell 66 points, the 10-year treasury yield was down […]