Sunday, June 4, 2023
North America

Market Surges and Airbnb Lawsuit

  • Market surge: DJIA and Nasdaq experience significant gains, with the DJIA surging 701 points and the stronger-than-expected jobs report contributing to the rise.
  • Airbnb lawsuit: Airbnb files a lawsuit against New York City over a new law that the company claims will limit short-term rentals and make it more difficult for hosts to do business.
  • Hotel openings and acquisitions: Several hotel brands announce new openings and acquisitions, including WoodSpring Suites, Sonesta, and Margaritaville, expanding their presence in different cities and states.

June is coming in like a lion with the second day even better than the first in the markets with the DJIA surging 701 points on an actual economic report. The stronger-than-expected jobs report also helped Nasdaq rise an additional 140, the S&P 500 was up 61 points and the 10-year treasury yield was up .08 to 3.69%. Lodging stocks were higher led […]