Stock Market Winners & Losers: Markets Slide as Rising Treasury Yields Rattle Nerves | NCAA Agrees to Pay Athletes Directly | Luxury Cruises are Riding the Foodie Wave
Stocks declined amid profit-taking, with American Airlines falling over 14% after lowering its second-quarter sales outlook, while Dick’s Sporting Goods rose more than 15% on strong earnings and raised guidance. The 10-year Treasury note yield increased to 4.59%. The S&P 500 has gained nearly 5% this month, and the Nasdaq is up over 8% in May. Friday marked the busiest day in U.S. aviation history with 2.95 million travelers. The NCAA agreed to allow colleges to pay athletes directly, potentially providing up to $1.5 billion annually. Luxury cruises are capitalizing on foodie trends, offering authentic dining experiences and excursions, with prices ranging from $4,000 to $7,900 per person. The luxury cruise market saw an increase to an estimated 1 million guests in 2023, up from 600,000 in 2019.
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