Morning Business Report: Holiday travel expected to reach record levels as Independence Day approaches
AAA projects a record 72.2 million Americans will travel at least 50 miles from home during the Independence Day holiday period.
(LILAMAX)- AAA projects a record 72.2 million Americans will travel at least 50 miles from home during the Independence Day holiday period, which runs from June 27 through July 5.
The forecast surpasses last year’s record of 71.8 million travelers and reflects continued strong demand for summer vacations.
Alaska cruise destinations are among the most popular this year, helping place Seattle, Anchorage and Fairbanks near the top of the list of domestic destinations. Major celebrations in New York, Chicago and Boston are also expected to attract large crowds, while Florida remains a favorite because of its beaches, theme parks and cruise ports.
Meanwhile, shares of SpaceX fell for a third consecutive trading day, erasing hundreds of billions of dollars in market value. The stock declined after the company announced plans to sell billions of dollars in bonds to help finance future growth.
Wall Street finished Monday with mixed results as investors continued shifting money out of technology stocks and into more traditional blue-chip companies.
Retail chain Bed Bath & Beyond also announced plans to open 22 new combination stores with The Container Store as part of its ongoing turnaround strategy. The locations will feature home goods, organizational products and in-home design services. The company also said it will honor its iconic 20% off coupons and enter customers into a sweepstakes for a $100,000 home makeover.
In the automotive industry, Chevrolet unveiled the redesigned 2027 Silverado 1500. The updated pickup truck will feature new V8 engine options, refreshed styling and additional in-cabin technology. Chevrolet describes it as the most powerful Silverado ever produced.
The new Silverado is expected to arrive in dealerships later this year, with pricing details to be announced at a later date.
