Why Camping World, Planet Fitness and Mastercard Are Rebounding
Shares of Camping World Holdings, Inc. (NYSE: CWH), Planet Fitness, Inc. (NYSE: PLNT), and Mastercard (NYSE: MA), are up 10%, 6%, and 5%, respectively, Friday afternoon as markets are recovering some of Thursday's massive losses.
Friday's optimism across the markets likely stems from the belief that the Trump Administration and Congress will be willing to take whatever measures are necessary to avoid the worst potential economic impact from the COVID-19 coronavirus outbreak.
The University of Michigan Consumer Sentiment Index fell to 95.9 from 101, but that wasn't as dire as economists estimated, and it wasn't far off of 2019's average reading. The better-than-expected reading suggests consumers understand this is a temporary speed bump rather than a long-term problem that will change their daily lives and spending permanently.
Source Fool.com
