Lodging Stocks Surge With Broader Market Gains

• Let’s go backwards to give you an overview of today’s market. The 10-year treasury yield plunged 0.32 to 3.83%. That is a nearly 8% drop in the yield on a modestly better CPI report.
• Vacasa reported 3Q results that went over as well with investors as their weak fourth quarter guidance.
• The LWHA Q3 2022 Major U.S. Hotel Sales Survey includes 119 single asset sale transactions over $10 million which totaled roughly $3.7 billion.

Let’s go backwards to give you an overview of today’s market. The 10-year treasury yield plunged 0.32 to 3.83%. That is a nearly 8% drop in the yield on a modestly better CPI report. Back to the regularly scheduled program, the DJIA surged 1,201 points, Nasdaq was up 761, and the S&P 500 rose 208 points. People will look at this and wonder […]