Wednesday, June 14, 2023
North America

Marriott Doesn’t See Price Sensitivity Yet

  • Stock market: DJIA fell 233 points, Nasdaq rose by 53 points, and S&P 500 increased by 4 points
  • Federal Reserve: Paused interest rate hikes but anticipates at least two more in the next 6 months, causing confusion in the financial markets
  • Lodging industry: SOND experienced a notable decline of -7%, while other lodging stocks were modestly lower. Various hotel companies reported on post-pandemic themes, opportunities for rate growth, and potential impacts of a recession scenario.

The DJIA fell 233 points while Nasdaq was up 53, the S&P 500 rose 4 points and the 10-year treasury yield was down .04 to 3.80%. Is there anyone who understands a Federal Reserve Board that paused interest rate hikes but tells the financial markets there will be at least two more in the next 6 months? The market had every reason to […]