CAR

Moving with its travel & car rental peers

• CAR +3.02% on the last session vs SPY +0.10%: +2.9 pts of stock-specific move.
• Travel & car rental basket +3.5% (+3.3 pts vs SPY; EXPE +6.2%, HTZ +5.4%, BKNG +3.8%, AAL +3.4%): the stock moved with its peers.
• Market backdrop (Today): Core PPI m/m 1.3% vs 0.3% expected (hotter); Core Retail Sales m/m 0.9% vs 0.6% expected (stronger); S&P futures -0.08%, 10-year yield -3bp in the 30 minutes after.