Travel stocks mixed as Morgan Stanley becomes bullish on the sector for 2023

Yahoo Finance's Brad Smith breaks down the latest moves in stocks on Monday.

Video transcript

- Guys, let's take a look at the Dow Jones Industrial Average. As we are 30 minutes, almost, into today's trading activity on a fresh trading week, we've got the S&P 500, actually, up on screen for you right now. We're down by about 9/10 of a percent. Dow Jones Industrial Average, that's down by about 8/10 of a percent right now, 270 points in the red. And the tech-heavy NASDAQ, you're also seeing that in negative territory right now by about 7/10 of a percent.

I wanted to zero in on, first, the sectors. We'll go there, and then we'll come back to this other board that I have set up for us and our convenience. We've actually got just one leader on the day right now. That is communication services. That's flat, just barely to the upside.

However, bringing up the caboose on the 11 S&P 500 sectors, you've got consumer discretionary, down by about 1.8%. And then, also, yeah, you've got a little bit of financial movement lower here by about 1.4%. But getting back to some of those travel names that I had pulled up a moment ago, and particularly on one call from Morgan Stanley saying that 2023 may be a Goldilocks year for travel, that kind of echoes some of the sentiment that we've heard from some of the other travel CEOs that have talked about, in Hilton's case, a golden age of travel that we may be entering into-- or, even from the airline front, what they've been seeing in surging travel demand.

UAL is up on that call from Morgan Stanley. We're seeing that up by about 1.4%, as well as some of the other airlines names holding on to some gains, at least right now. So we'll continue to watch that.