Tourism and travel shares gained Friday as investors grew more optimistic about the world’s ability to fight the pandemic amid the promise of a new pill.
Merck said its oral antiviral treatment for Covid-19 has shown in trials to reduced the risk of hospitalization or death by 50% for patients with mild to moderate cases. Shares of Merck jumped nearly 10% in morning trading.
Travel and Tourism Shares Spike on News
The news of the new Merck drug helped boost shares of tourism related companies in eluding airlines stocks, cruise liners and others. Delta (DAL), American Airlines (AAL), SouthWest (LUV), Royal Caribbean Group (RCL), Wynn Resorts (WYNN), Marriott (MAR), Las Vegas Sands (LVS) all moved higher on the news.