Look for airline, cruise line earnings to be 'very, very good': financial adviser

STORY: JPMorgan Chase & Co and Morgan Stanley kicked off the second-quarter earnings season on a sour note with both banks reporting slumping profits and warned of an impending economic slowdown.

Delta Air Lines posted a lower-than-expected second-quarter profit and warned that cost pressures would remain elevated through the year as it battles operational challenges.

Despite the downbeat results from Delta, Payne said he expected travel-related stocks to "do the best," citing a shift in consumer spending to services.

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