Why Carnival Stock Is Cruising Higher Today

Shares of Carnival (NYSE: CCL) (NYSE: CUK) rose as much as 3.7% in early trading on Monday, bucking a falling market overall. The reason was falling oil prices, which are down 2.9% as of 11:10 a.m. ET. Carnival is currently up 1.9% after giving up some of its early gains.

The biggest news of the day is oil prices declining to around $95 per barrel. This not only lowers input costs for cruise ships, but also gives consumers a little more money to spend on discretionary purchases like a cruise. 

Image source: Getty Images.

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Source Fool.com