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Morning Commentary

If You Open We Will Come

By Charles Payne, CEO & Principal Analyst
5/26/2020 9:37 AM

Clearwater beach nearly at capacity during Memorial Day weekend as law enforcement limits crowds to provide for proper social distancing Saturday. [LUIS SANTANA  |  Times]

Tampa, FL

Restaurant Reservations Y/Y

May 3

May 24

Chicago

-100%

-100%

New York City

-100%

-100%

Los Angeles

-100%

-100%

Dallas

-94%

-73%

Phoenix

-100%

-74%

Miami

-91%

-60%

Open Table

 

Friendlier Skies

Watch airline stocks today after the massive $9.8 billion German bailout of Lufthansa.  There will be more pressure for greater aid to US carriers.

In addition, UBS placed a buy rating on Southwest (LUV) this morning, hiking its target to $41 from $37.

“We see a clearer path for domestic travel recovery…and have started to see enough evidence of LUV’s cash burn reduction that some of the tail risk is removed” UBS analyst Myles Walton told clients.

Portfolio Approach        

We are adding to a new position in Materials in our Hotline Model Portfolio.

Today's Session

The markets are soaring on economies reopening and hopes for a vaccine, sooner rather than later. 


 

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