The stock market was mixed on Wednesday, as tech stocks helped Nasdaq closed in the green.
Treasury yields continued to weighed on the market despite softer inflation. The 10-year yield breached 5.3% during the day, its highest level since 2002. On another note, the Personal Consumption Expenditure price index rose 3.4% year-over-year in August, cooler than estimates of 3.7%.
Overall, S&P 500 fell 0.3% to 7,652, while Nasdaq rose 0.2% to 26,861.
Chart of the Day
Here is the one-year chart of Booking Holdings (BKNG) as of September 15, 2026, when the stock was at $171.
Booking Holdings stock is a real deal right now. The company just posted 15% profit growth last quarter, and the Estimated Long-Term Growth Rate is 14%.
To David Sharek, Founder of School of Hard Stocks, this stock seems worthy of a 22, P/E, which would take the stock up 34% from $171 to $230 a share. Gross bookings rose by 9% last quarter, as revenue increased 8%. Note revenue growth was slower than gross bookings primarily due to elevated cancellations in March amid the Middle East conflict.
Still, domestic and intra-regional travel remained healthy in many parts of the world. Wars in the Middle East and Ukraine are hampering revenue growth a bit, but when tensions subside, we think the stock will have the ability to move higher.
BKNG is part of the Conservative Growth Portfolio. The stock is a good value here.
