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Stocks Close Out Strong Week After Cooler Inflation

A man in a suit sitting in a large green chair with a dog, and the text 'Booking.com' below.The stock market closed mixed on Friday, but ended the week on the green, as investors see inflation data as crucial to Federal Reserve’s decision on the next interest rate cut.

Overall, S&P 500 fell 0.1% to 5,738, while NASDAQ declined 0.4% to 18,120.

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Here is the ten-year chart of Booking (BKNG) as of August 26, 2024, when the stock was at $3,798.

Booking reported modest growth last quarter as airline ticket sales were the bright spot. Last quarter, the company delivered 11% profit growth on 7% revenue growth. Asia experienced mid-teens growth, while Europe and the US saw mid-single-digit increases. It also increased alternative accommodations listings by 11% versus last year, which led to more bookings and enhanced the travel experience. Now, alternative accommodations account for 36% of all room nights booked globally, with a 12% increase in room nights. Airline tickets reserved increased 28% driven by an expansion of flight offerings on Booking and Agoda.

BKNG is one of our top holdings in the Conservative Growth Portfolio.

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