Pre-market shares: Travel shares get a boost as the US reopens for tourists

Expedia’s revenue in the last quarter was up 97% compared to the same period last year. The stock has jumped almost 11% this month.

Kern said the pivot from the US and Singapore gave an immediate boost.

“We see that it basically increases as soon as it is announced,” he said. “We see that search is increasing.”

But after an extremely unstable period, the travel companies are hesitant to say that the worst is behind them.

“Looking ahead, it is clear that recovery will continue to be choppy,” said Delta CEO Ed Bastian at the company’s recent profit call.

Nevertheless, Bastian pointed to “clearly underlying momentum”, thanks in part to the repeal of international travel rules. He said the US reopening of foreign tourists marked a “critical moment in our path to international recovery”, and predicted that 75% of Delta’s operations would be restored by the end of 2021.

What can go wrong? New coronavirus variants that lead to an increase in infections remain a threat. Expedia noted that in the third quarter, the Delta variant led to a decrease in reservations for accommodation and flights compared to the spring.

“We saw that it affected cancellations,” Kern said. “We saw it affect booking trends.”

Rising fuel prices are also a problem for airlines. They may be forced to pass on some of the higher costs to customers, who may then think twice about buying expensive tickets.

Tesla shares plummet when Musk promises to sell 10% of its shares

Tens of billions of dollars could be wiped off Tesla’s market value on Monday due to a Twitter poll.

“A lot has been done lately of unrealized gains as a means of tax evasion, so I propose to sell 10% of my Tesla stock,” he said. “Do you support this?”

The tweet seems to refer to a democratic proposal that billionaires should pay an annual tax on assets such as stocks, bonds and real estate that have been valued but have not been sold. Musk has criticized the plan.

With more than 3.5 million votes, 58% of those polled said “yes”.

“I was prepared to accept both outcomes,” Musk followed up on Sunday.

His exact plan to sell shares is not clear. But Tesla’s stock fell around 6% in pre-market trading on Monday.

Investor insight: Tesla’s share has fallen 73% this year, valuing the electric car maker at $ 1.2 trillion. But trade is still choppy.

Over the past year, equities have fallen at least 6% over seven trading sessions. They have skipped at least 6% over 13 trading sessions.

See this space: Musk has previously dropped out of regulators for publishing market-moving tweets without proper consultation.

In 2018, the US Securities and Exchange Commission charged him with fraud after Musk tweeted that he was considering taking Tesla private. He later secured a court-approved agreement that required that all social media posts that contained information “material” to shareholders be reviewed by the company first.

World food prices increase by 30 percent in one year

Robust demand and deficient crops have driven world food prices to the highest level in more than a decade.

The price of wheat rose by 5% in October due to reduced yields from major exporters, including Canada, Russia and the United States.

And gains show no signs of easing. Earlier this month, December wheat futures reached their highest level since 2012.

Remember: The UN Food and Agriculture Organization’s Food Price Index has jumped more than 30% in the past year.

Billionaires must “step up now, on a one-time basis,” Beasley told CNN.

Rising food prices can also create political discontent in richer countries, where high inflation expectations have caught the attention of politicians.

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– Chris Liakos and Anna Cooban contributed with reporting.