Expedia Group (EXPE) shares are soaring 5% in Friday's intraday trading, reflecting a broader rally in travel stocks and approaching a new all-time closing high. The online travel booking giant's stock price surge comes amid a strong week for the travel industry, with competitors also posting significant gains.

The stock reached $214.80, up $9.46 or 4.6%, putting it on track to surpass its previous record close of $213.80 set on February 16, 2022. Expedia's robust performance is part of a larger trend, with the stock up 19.19% month-to-date and 15.28% year-to-date. This rally signals growing investor confidence in the travel sector's recovery and future prospects.

The positive momentum in travel stocks is not limited to Expedia. Industry peers such as Booking Holdings (BKNG) and Airbnb (ABNB) are also experiencing upward trends, each gaining more than 2% in recent trading. This sector-wide rally follows remarks from Federal Reserve Chairman Jerome Powell, which appear to have boosted overall market sentiment. As the travel industry continues to show signs of strength, Expedia's approaching record high reflects optimism about the company's growth potential and the broader recovery of the travel market.