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‘There are bargains out there’ as summer travel season heats up
Hot summer fun.
From backpackers to beachcombers to global travelers, about half of adult travelers expect to travel more this summer than last year, according to a recent survey.
“Demand for travel is not slowing down,” Paula Twidale, senior vice president at AAA Travel, told Yahoo Finance. “It will be busy all summer.”
Demand for holidays in Europe, in particular, is extremely high, leading to crowded cities and expensive hotel rooms. Room rates are rose around 10% for summer trips to Amsterdam, Barcelona, Berlin, Dublin, London, Paris and Stockholm.
“There are bargains to be had if you can be flexible with your travel dates and book as quickly as possible,” Hayley Berg, chief economist at travel booking app Hopper, told Yahoo Finance. “If you haven’t booked your summer plans yet, do so as soon as possible. Now is the ideal point to get a good deal.”
See more information: The best credit cards for travel
Record Independence Day Travel Rates
During the week of July 4 alone, AAA projects that 70.9 million Americans will hit the road, a 5% increase over last year. Most of these tourists will drive to their destination. Good news if you’re one of those road warriors: Gas prices are lower than they were last year, when the national average was $3.58. Today average gas price in the US it is US$3.45 per gallon.
Prices at the pump will likely continue to fall further as we get closer to Independence Day, according to the AAA report, and will remain relatively stable until after Labor Day. One potential disruptor: Hurricane season could send prices crashing down if a storm hits Gulf Coast oil production and refining centers.
During the week of July 4 alone, AAA projects that 70.9 million Americans will hit the road, a 5% increase over last year. (Getty Creative) (sarayut Thaneerat via Getty Images)
A record number of Americans — 5.7 million — will also depart on a jet plane during the July holiday, according to AAA. And rates are lower than last summer. Domestic airfare for the Fourth of July weekend is down 18% from last year, averaging $263 per ticket, according to Hopper’s new report.
“Add jumping on a plane as a national Fourth of July pastime, alongside backyard grilling,” Expedia travel expert Melanie Fish told Yahoo Finance. The Saturday before the holiday begins the busiest week of air travel of the summer.
But that’s just a slice of the action. This summer, more than 57,000 flights are scheduled to take off from U.S. airports, bringing an estimated 13 million American travelers to destinations across Europe.
See more information: The best airline credit cards
Paris is among the most popular international destinations – mainly due to the Paris Olympics in July. But Japan holds the crown as a top year-round destination, according to research from Expedia. Tokyo, Osaka and Kyoto are the fastest growing cities for summer travel. “Africa is the number 1 trending region in Kayak,” said Jake Bouvrie, vice president of data science and chief economist.
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The most popular destinations are “domestic cities like New York and Las Vegas, but we are also seeing double-digit spikes in Amsterdam and Tokyo,” Fish said.
I spoke with several travel experts about the best ways to save on summer travel, and the mood was decidedly upbeat.
They all noted that they expect an increase in the number of Americans traveling in the next two months and agree that many will likely find it cheaper than a year ago for many destinations.
8 expert tips for stress-free travel this summer
1. Be flexible
If you’re looking forward to spending the Fourth of July holiday, you’ll still find the best last-minute airfare if you book a trip starting on Thursday, July 4 and returning on Tuesday of the following week, Berg said.
“This will save travelers an average of 32% or about $121 per ticket compared to the more popular Wednesday to Sunday trip,” she said.
To be honest, if you haven’t set your plans for the 4th of July yet, calm down. Holidays like Fourth Day and Labor Day are generally the most expensive summer dates.
“Flexible travelers can save 15% on their nightly hotel rate, for example, by staying during cheaper weeks or weekends this summer,” Berg said. “Mid-August currently offers the most deals for flexible travelers.”
This is also the best time to save on international air tickets.
2. Europe for sale
From the US, many airfares to European destinations fell 37% in July and August compared to 2023, according to data from Hopper. Fares to Canada and the Caribbean cost less than $500 per round-trip ticket, while trips to Europe average about $900 per round-trip ticket, Berg said. The most booked destinations on Hopper include London, Paris, Rome, Dublin and Barcelona.
Paris is among the most popular international destinations – mainly due to the Paris Olympics in July. (Getty Creative) (Matteo Colombo via Getty Images)
That said, if you choose to travel to Europe in September or early October, you can see bigger savings, around 23% or around $195 on round-trip airfare.
3. Stay away from crowds
The most affordable offers are outside major European cities.
“Explore off-the-beaten-path locations,” AAA travel consultant Wendy Marley told Yahoo Finance. “There are great values that can be found in destinations like Madeira and the Azores. Not only do you get that great European culture, but you also get a lush tropical vacation spot.”
4. Pay attention to reservation times
Domestic travelers should generally book two to three months in advance to get the best prices and availability. For international travelers, Berg recommends booking three to five months in advance.
The worst time to book a flight is less than a week in advance for domestic travel or more than 90 days in advance for international travel — travelers paid 15% more than average during these periods, according to data from Expedia.
And the standard advice for flyers remains. “Travelers who fly midweek – Tuesday or Wednesday – can save an average of 18% or $51 per ticket on domestic airfare,” Berg said.
The worst time to book a flight is less than a week in advance for domestic travel or more than 90 days in advance for international travel — travelers paid 15% more than average during these periods, according to data from Expedia. (Getty Creative) (izusek via Getty Images)
5. Shop seasonal deals
Rates decrease considerably in the autumn season, especially for Europe in September. You can save almost a third of peak summer prices by traveling in September compared to peak summer months, according to Berg.
6. Keep an eye out for the best rates
If you know where you’d like to take off, set up an airline ticket price tracker. You will receive a notice whenever rates drop. Each of the major travel apps, like Hopper, Kayak, and Skyscanner, offers fare tracking, as does Google Flights.
Do a search on Kayak “best time to travel” tool to get an idea of when you can get the best deals. For example, I typed Washington, DC, to Geneva for seven days and suggested making my trip in October.
“We recommend going to Geneva in October because the airfare is reasonable ($617), the weather is cool (51°F), and it is less crowded than usual, with fewer tourists around,” the website reported.
7. Free up those loyalty points
“Take advantage of all your rewards points, including frequent flyer miles, hotel loyalty and credit card points,” said Marley.
A rewards credit card that offers no foreign transaction fees, for example, is a must if you’re leaving the country. When making a purchase, ask for it to be charged in your local currency to get the best exchange rate.
See more information: The best rewards credit cards
Prepare for a weaker dollar abroad. (Getty Creative) (Nathan Bilow via Getty Images)
8. Prepare for a slightly weaker dollar abroad
The dollar was worth about 93 euro cents on June 22, down from 0.95 euros last October, according to currency conversion experts. Wise. For those traveling to London and the UK, $1 will get you 79 cents – down from nearly 83 cents in October.
Entrance fees to places like the Eiffel Tower have skyrocketed. This month, an adult ticket to the top of the tower will cost about $38, a 20% increase from last summer.
Is life.
Kerry Hannon is a senior columnist at Yahoo Finance. She is a career and retirement strategist and author of 14 books, including “In control over 50: how to succeed in the new world of work” and “Never too old to get rich.” Follow her on X @kerryhannon.
Read the latest financial and business news from Yahoo Finance
The spotlight next week will shift somewhat to the Federal Reserve’s second-quarter earnings season and monetary policy. Market watchers will be treated to results from several major names, including Dow 30 components Goldman Sachs (GS), UnitedHealth (UNH), Johnson & Johnson (JNJ) and American Express (AXP), along with streaming giant Netflix (NFLX).
The Fed will still attract some attention as investors will be eager to hear from a packed lineup of central bank speakers just before the policy meeting lockout period.
In terms of the economic calendar, after fifteen days of labor market and inflation indicators, activity data will gain momentum in the form of the latest retail sales and industrial production reports.
Earnings Highlight: Monday, July 15 – Goldman Sachs (GS) and BlackRock (Black). See the full earnings calendar.
Earnings Highlight: Tuesday, July 16 – UnitedHealth (UNH), Bank of America (BAC), Progressive (PGR), Morgan Stanley (IN), PNC Financial (PNC) and JB Hunt Transport (JBHT). See the full earnings calendar.
Earnings Highlight: Wednesday, July 17 – Johnson & Johnson (JNJ), US Bancorp (USB), Morgan Children (KMI), United Airlines (UAL) and Ally Financial (ALLY). See the full earnings calendar.
Earnings Highlight: Thursday, July 18 – Netflix (NFLX), Abbott Laboratories (ABT), Black stone (BX), Domino’s pizza (ZDP) and Taiwan Semiconductor Manufacturing (TSM). See the full earnings calendar.
Earnings Highlight: Friday, July 19 – American Express (AXP), Halliburton (THANKS) and Travelers (VRT (return to recoverable value)) See the full earnings calendar.
IPO Observation: Hospital and healthcare clinic operator Ardent Health Partners (TARDT), insurance service provider Twfg (TWFG) and the biotechnology company Lirum Therapeutics (LRTX) are expected to price their IPOs and begin trading next week. The analyst quiet period ends at Rectitude (RECT) to free up analysts to publish ratings.
Police cars outside the residence of Thomas Matthew Crooks, the suspected shooter at a Trump rally on Saturday, investigate the area in Pennsylvania. Following the incident, one rally attendee was killed, two rally attendees are in critical condition and Donald Trump suffered a non-fatal gunshot wound. The shooter is dead after being shot dead by the United States Secret Service. (Photo by Kyle Mazza/Anadolu via Getty Images)
Investors will initially favor traditional safe-haven assets and may lean toward trades more closely tied to former President Donald Trump’s chances of winning the White House after he survived an assassination attempt, according to market watchers.
“There will undoubtedly be some protectionist or safe-haven flows into Asia early this morning,” said Nick Twidale, chief market analyst at ATFX Global Markets. “I suspect gold could test all-time highs, we’ll see the yen being bought and the dollar, and flows into Treasuries as well.”
Early market commentary suggested Trump’s shooting at a rally in Pennsylvania on Saturday could also prompt traders to increase his likelihood of success in the November election. His support for looser fiscal policy and higher tariffs is generally seen as likely to benefit the dollar and weaken Treasuries.
An indicator of market sentiment heading into the weekend: Bitcoin surged above $60,000, likely reflecting Trump’s pro-crypto stance.
Other assets positively linked to the so-called Trump trade include stocks of energy companies, private prisons, credit card companies and health insurers.
Traders will also be closely watching market measures of expected volatility on Monday, such as those in the tariff-sensitive Chinese yuan and Mexican peso, which have begun to price in the U.S. vote.
Trump said he was shot in the right ear after a shooting at his rally. His campaign said in a statement that he was “fine” after the incident, which prompted him to rush off the stage.
“Currencies will be the first major market on Monday in Asia to react to the weekend’s shots. There’s potential for extra volatility, and getting a clear reading could be especially difficult because liquidity will be hurt by Japan’s national holiday,” said Garfield Reynolds, Asia team leader for Bloomberg Markets Live.
Strategists had already expected a volatile run-up to the election, particularly as Democrats are still agonizing over President Joe Biden’s candidacy after his poor performance in last month’s debate raised questions about his age. Investors were also grappling with the possibility that the election could end in a drawn-out dispute or political violence.
But there is little precedent for events like those in Pennsylvania. When President Ronald Reagan was shot four decades ago, the stock market plunged before closing early. The next day, March 31, 1981, the S&P 500 rose more than 1% and benchmark 10-year Treasury yields fell 9 basis points to 13.13%, according to data compiled by Bloomberg.
Bond investors should pay particular attention as the attack is likely to boost Trump’s election chances and ultimately lead to concerns about the fiscal outlook, according to Marko Papic, chief strategist at California-based BCA Research Inc.
“The bond market must at some point become aware of President Trump’s greater chances of winning the White House than any of his rivals,” Papic wrote. “And I continue to believe that as his chances increase, so too must the likelihood of a bond market revolt.”
Kyle Rodda, senior financial markets analyst at Capital.com, said he was seeing client flows into Bitcoin and gold following the shooting.
“This news marks a turning point in American policy norms,” he said. “For markets, it means safe-haven trades, but more tilted toward non-traditional safe-havens.”
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Jio Financial share price: Should you buy this Reliance group stock on Monday ahead of Q1 FY2024 results?
Q1 2024 Results: Jio Financial Share Price will be in focus on Monday as the Reliance Group company has a fixed board meeting on July 15, 2024 to consider and approve the company’s unaudited standalone and consolidated financial results. Trust Group company informed about the Q1 2024 Results date on Wednesday last week via an exchange filing. According to stock market experts, Jio Financial Services Limited is poised to deliver impressive Q1 results for FY25 on solid operating income. They have forecast a healthy QoQ PAT for the company in Q1 FY25.
Jio Financial Services News
Speaking on the Jio Financial Services Q1 2024 results, Manish Chowdhury, Head of Research, StoxBox, said, “We believe Jio Financial Services is poised to deliver impressive results in Q1FY25 aided by its operating income, which is likely to show robust growth driven by strong investment income, which in turn should lead to healthy PAT growth on a sequential basis. Jio Financial Services continues to make strategic moves such as launching digital products and expanding its ecosystem, with a clear focus on future growth. The company has announced plans to introduce products for lending against stocks and mutual funds, leveraging Jio’s large user base, which could be a significant growth driver in the coming quarters.”
“Furthermore, with the NBFC receiving RBI approval to become a primary investment company, Jio Financial Services is well-positioned to unlock value from its investments. Overall, we expect the company to report robust numbers in the upcoming quarter,” the StoxBox expert added.
Jio Financial Stock Target Price
Speaking about the technical outlook of Jio Financial share price, Ganesh Dongre, Senior Manager, Technical Research at Anand Rathi, said, “Jio Financial Services share price is poised to make a fresh high at the ₹260 apiece level. If the stock breaks above this mark, the Reliance Group stock could make a fresh high by touching the ₹290-₹295 zone. Hence, those with Jio Finance stock in their portfolio are advised to stick to the script by keeping a stop loss at ₹205. If the stock breaks above ₹260 decisively, then one can upgrade the stop loss at ₹240 for the near-term target of ₹295.”
On the advice to new buyers regarding Jio Financial stock, Ganesh Dongre said, “New buyers are advised to wait for the breakout. Once the stock breaks above ₹260, one can buy this Reliance Group stock at the short term target of ₹295, keeping a stop loss of ₹240 apiece.”
Disclaimer: The views and recommendations made above are those of individual analysts or brokerage firms, and not of Mint. Investors are advised to consult with certified experts before making any investment decisions.
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