Travel volume has dropped along with consumer spending and consumer sentiment over the past several months. And Avis Budget Group suffered from the decline in travel losing $1 billion dollars and having to cut 700 jobs in the most recent quarter preliminarily reported last night.

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American Airlines is seeing its stock decline by near 12% today as gas rebounds after a prolonged down trend in the commodity. Airlines generally move in the opposite direction of gasoline as fuel is a large part of their variable expense in flight costs. Only Southwestern was able to hedge against the large spike in gasoline that the US experienced over the summer. But the decline in oil has helped the airline industry tremendously.

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Freeport McMoRan stumbled out of the gate this morning after releasing an earnings report that showed slowing demand for copper in China as the world begins to worry about slowing economies everywhere. The price of copper fell dramatically over the past quarter after an incredible run with a number of other commodity names like oil, gas, wheat, coal, and others. This drop in pricing power made it difficult for the Phoenix based miner and producer of gold and cooper to make it's expected earnings numbers for the quarter.

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The Casino Operators have had a precipitous fall along with the rest of the market during the month of October. Les Vegas Sands has fallen near 40% while MGM Mirage has taken a fall from $30 a share down to $12 a share today. Look for more weakness as gambling is not in the cards for American consumers struck will dismal economic outlooks.

Retail Pharmacies Decline

The retail pharmacies/drug stores have hit fresh 52 weeks lows recently as consumer strength is questioned by investors as job losses mount. Walgreens and CVS Pharmacy are still growing in revenue and earnings but the stocks continue to fall.