Thursday, July 27, 2023
North America

Wyndham Gets a Vote of Confidence

  • The DJIA ended its winning streak with a 237-point drop, Nasdaq was down 77, and the S&P 500 fell 29 points. The 10-year treasury yield surged by 0.16, closing at a yield of 4.01%.
  • Wyndham reported positive results, with its development pipeline rising and a significant stock buyback. Accor raised its annual profit outlook despite being slightly below analyst expectations.
  • Senators Klobuchar and Moran introduced the Hotel Fees Transparency Act, aiming to crack down on hidden resort fees. They propose federal guidelines for pricing transparency in hotel stays.

The winning streak for the DJIA ended with a 237-point drop today while Nasdaq was down 77, the S&P 500 fell 29 points, and the 10-year treasury yield surged .16 to close at a yield of 4.01%. Lodging stocks were mixed. MAR traded up to a new high, and SOHO was up 8%. Wyndham reported a slight beat, and while the debate is whether […]