Why Carnival, Royal Caribbean, and Norwegian Cruise Line Stocks Are Rising Today
Cruise ship stocks jumped on Monday, following a stronger-than-expected jobs report on Friday. Investors are growing more optimistic that the economy could recover more quickly than many economists originally feared. That could be a boon for the major cruise ship operators, which tend to benefit when people have more money to spend on vacations.
As of 12:35 p.m. EDT, shares of Carnival (NYSE: CCL), Norwegian Cruise Line Holdings (NYSE: NCLH), and Royal Caribbean (NYSE: RCL) were up 12%, 11%, and 4%, respectively.
Last week, economists were bracing for one of the worst job reports in history. Consensus estimates were for the unemployment rate to surge to nearly 20%, driven by a staggering 8 million job losses.
Source Fool.com
