CNBC Business News Update Market Close: Stocks Higher, Ford With Strong May Sales As Pre Tariff Vehicles Dwindle, Cruises Seen As Winners As Consumers Watch Travel Dollars 6/3/25
Jun 3, 2025
Discover the latest Wall Street developments, with stocks on the rise thanks to strong performances from companies like Ford and NVIDIA. Explore the changing landscape of consumer preferences in the auto sector and travel trends as vacationing habits evolve. Gain insights into how these factors shape the labor market and the overall economy, painting a picture of hope and resilience for investors and consumers alike.
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Ford's Strong Sales Shift
- Ford's May sales rose 16.3 percent despite dwindling pre-tariff inventory.
- The market is shifting from electric vehicles to hybrids and internal combustion engines.
Cruises Gain on Travel Budget
- Cruise vacations are 25-40% cheaper than comparable land-based vacations.
- Consumers favor cruises as a cost-effective alternative amid high airfares and economic uncertainty.
Airlines’ Seat Pricing Practices
- United and Delta stopped charging single travelers more for tickets after public scrutiny.
- American Airlines still requires multiple travelers to qualify for lowest fares on some routes.