A number of stocks fell in the afternoon session after the latest U.S. consumer confidence report revealed underlying weakness despite a headline increase, raising concerns about future spending. While the Conference Board's headline Consumer Confidence Index rose to 97.2 in July, the details painted a more cautious picture for investors. The Present Situation Index, a measure of consumers' assessment of current business and labor market conditions, actually fell. More telling for the sector, the report showed a decline in buying intentions for major discretionary items such as homes, cars, and most appliances. This combination of factors signals potential weakness in future consumer spending, casting a shadow over companies that rely on non-essential purchases.
Shares of Norwegian Cruise Line are trading lower Tuesday. The stock is down following a mixed earnings report from competitor Royal Caribbean Cruises.
Chief Executive Jason Liberty said that bookings have accelerated since the last earnings, and roughly 75% consumers are intending to spend the same or more on leisure travel over the next 12 months.
Before the opening bell on Tuesday, let's take a glimpse of the US markets and explore the S&P500 top gainers and losers in today's pre-market session.
Shares of Royal Caribbean have risen 52% so far this year and jumped more than 125% in the last 12 months, driven by steady cruise demand and higher ticket prices.
Companies that burn cash at a rapid pace can run into serious trouble if they fail to secure funding.
Without a clear path to profitability, these businesses risk dilution, mounting debt, or even bankruptcy.
Value investing has created more billionaires than any other strategy, like Warren Buffett, who built his fortune by purchasing wonderful businesses at reasonable prices.
But these hidden gems are few and far between - many stocks that appear cheap often stay that way because they face structural issues.
Let's have a look at what is happening on the US markets one hour before the close of the markets on Tuesday. Below you can find the top S&P500 gainers and losers in today's session.
Curious about the market action on Monday? Dive into the US markets to explore the gap up and gap down stocks in the S&P500 index during today's session.
Travel stocks are primed for a comeback now that consumer sentiment is improving. Here are three stocks with the potential to outperform the rest of the year.
