Why Carnival, Royal Caribbean, and Norwegian Cruise Line Stocks Soared Today
Cruise ship stocks surged on Friday after a surprising jobs report boosted investors' hopes for a faster-than-expected economic recovery.
As of 1:30 p.m. EDT, shares of Carnival (NYSE: CCL), Royal Caribbean (NYSE: RCL), and Norwegian Cruise Line Holdings (NYSE: NCLH) were all up more than 20%.
The U.S. economy added 2.5 million jobs in May, according to the Labor Department, which brought the unemployment rate down to 13.3%. That was in stark contrast to analysts' projections. Wall Street expected the economy to lose 8 million jobs, which would have increased the unemployment rate to nearly 20%.
Source Fool.com
