4 ETFs To Add To Your Fourth Of July Celebration
Zacks Investment Research | Jul 02, 2017 09:14PM ET
With solid employment, rising income, low gas price, and higher consumer confidence, more Americans will binge on travel and barbecue this Fourth of July.
AAA estimates that a record 44.2 million Americans will travel 50 miles or more during the holiday weekend (June 30 to July 4), up 3% from last year. About 38 million will travel by car, over 3.5 million will fly, and the remaining will take other modes of transportation like bus, train or ship.
The spike in travel demand was driven by cheap gas prices. According to a GasBuddy, drivers on the road are likely to pay the lowest price in 12 years. Consumers will pay an average of $2.21 per gallon over the Independence Day weekend at the pump, well under the 10-year average of $3.14 and 12 cents lower than the price on New Year’s Day for the first time.
Apart from one of the busiest holidays, Independence Day also marks the beginning of the busiest half of the year for retailers. Many retailers are already flashing exciting deals for July Fourth and massive discounts are in the cards for the day. According to the National Retail Federation (NRF), Americans are expected to spend $7.1 billion to celebrate Independence Day, up 4.4% from last year. Spending per household is estimated at $73.42 on food for cookouts and barbecues, up from $71.34 last year (read: Zacks Investment Research
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