Median Rent Could Hit $2,000 Soon

The stock market is up today. At noon, the S&P 500 is up by about 0.44%. That’s not bad. High Beta stocks are doing very well while the Low Beta sector is mostly flat.

Some travel stocks have been getting knocked around. Royal Caribbean (RCL), Norwegian Cruise Line (NCLH), MGM (MGM) and Expedia (EXPE) all hit new 52-week lows, and Carnival is very close.

I will cautiously point out that Ross Stores (ROST) has made back a lot of lost ground. Today’s high for Ross was 18% above Friday’s intra-day low.

This morning’s report on durable goods showed an increase of 0.4%. The figure for March was revised down to a gain of 0.6%. MarketWatch said that the national median rent could hit $2,000 very soon.

Stay tuned. At 2 pm, the Fed will release the minutes from its last meeting.

Posted by on May 25th, 2022 at 12:03 pm


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