Stock Market News: Why Cruise Ship Stocks Are Sailing Higher

There are a lot of reasons for investors to be worried, but the stock market doesn't seem to be paying much attention to them. Even with 1.87 million new claims for unemployment benefits once again topping what economists had expected to see, market participants remain steadfastly optimistic that the reopening of the economy will spur a recovery that will justify the indexes' recent moves higher. Just after 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 86 points to 26,356. The S&P 500 (SNPINDEX: ^GSPC) rose 2 points to 3,125, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) picked up 7 points to 9,690.

Cruise ship operators remain among the industries most affected by the coronavirus pandemic, and they've experienced some of the largest rebounds over the past couple of months. Yet even though the cruise line industry has seen some positive signs, it's also had to deal with challenges that could last a lot longer than some investors realize.

Stocks in the sector were higher, with Norwegian Cruise Line Holdings (NYSE: NCLH) leading the way with a 7% rise. Carnival (NYSE: CCL) followed suit with a 5% gain, and Royal Caribbean Cruises (NYSE: RCL) managed to see its shares inch up 2%.

Source Fool.com