Expedia Group (EXPE) shares are soaring 5% in Friday's intraday trading, riding a wave of optimism that's lifting the entire travel sector. The online travel giant's stock is approaching a new all-time closing high, reflecting growing investor confidence in the travel industry's recovery and future prospects.

The surge in Expedia's stock price comes amid a broader rally in travel-related stocks. Competitor Booking Holdings (BKNG) is also showing strength, nearing a flat base buy point of 5,839.41. Other travel stocks, including Airbnb (ABNB), American Airlines (AAL), and Delta Air Lines (DAL), are all posting significant gains. This sector-wide momentum appears to be fueled by positive market sentiment following remarks from Federal Reserve Chairman Jerome Powell.

Expedia's impressive performance extends beyond just today's gains. The stock is up 3.55% this week, marking its best weekly showing since mid-August. Moreover, it has surged 19.19% month-to-date and is up 15.28% year-to-date. If the current trajectory holds, Expedia will close at a new record high, surpassing its previous peak of $213.80 set on February 16, 2022. This remarkable rally underscores the market's growing optimism about the travel industry's recovery and Expedia's position within it, despite ongoing macroeconomic uncertainties.