Stock Market Winners & Losers: Wall Street Rally Build Momentum | Busy Thanksgiving Travel This Year | ESPN is Ready to Play the Odds

Winner: Wall Street rally builds momentum
• Stocks are building on their strong November gains, as Wall Street cheered new U.S. inflation data that raised hope of the Federal Reserve wrapping up its rate-hiking campaign.
• The Dow Jones Industrial Average jumped 512 points, or 1.5%, marking its second 500-point gain this month.
• The S&P 500 rallied 1.9%, briefly trading above the key 4,500 level.
• Stellar performance this month for stocks. The S&P 500 is up 7.3% in November. The Nasdaq is up 9.4%,.
• CPI was flat last month on a month to month basis while so-called core CPI, which strips out food and energy prices, was also lower than expected and the slowest in two years.
• The 10-year Treasury yield, which shocked stock investors by leaping over 5% in October, tumbled below 4.5% following the soft inflation report.

Other Stories
• Home Depot earnings beat, but retailer offers a tepid outlook as sales slide
• Whose buying homes? More and more homebuyers are single women. The share of single women buying homes is almost double that of men. They’re also slightly older—a single woman buying her first home is 38 on average, while a single man is 33.
• McDonald’s and Crocs are releasing a line of $75 shoes inspired by Grimace and the Hamburglar Winner: Thanksgiving travel is expected to be robust
• Holiday travel is expected to be the third-busiest period since the AAA started tracking it in 2000 55.4 million people planning to go 50 miles or more from home.
• The number of projected travelers would be 2.3% higher than last year and just below 2019 levels,
• Most people plan to drive, but 4.7 million people plan to fly, up 6.6% from last year and the highest number since 2005.
• The projected 1.55 million people taking cruises, buses or trains would be up nearly 11% from last year
• Thanksgiving cruises are mostly sold out
• Domestic cruise prices are averaging $1,507, down 12% from 2022.
• Average domestic airfare is up 5% from last year, while fares on international flights are down 5.7%.
• The average price for a hotel room stay is $598, down 12%, and the average price of a car rental is down 20%.

Winner: ESPN is ready to play the odds
• ESPN will launch ESPN Bet in 17 states today, hoping to break through the already crowded sports betting market.
• FanDuel (36%) market share
• DraftKings (33%) market share
• Fox Bet, the sports-betting venture of another TV network, and other sportsbooks closed up shop recently.
• Content integration. It started last night with the Monday Night Countdown pregame show and will likely never, ever end.
• Potential existing clients. ESPN has 20 million fantasy sports users who could be converted into sports bettors (if they’re not already).
• Ad blitz. When sports betting became legal in 2018, it felt like there was no escaping sportsbook commercials. ESPN could deploy that strategy again.
• Prepare for sports on television to be a big front for online gambling.
• No betting on draft picks

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