Why Cruise Line Stocks Are Sailing Higher Tuesday Morning
Tuesday morning brought some hesitation to Wall Street, as market participants got a reminder that geopolitical problems are still extreme and will likely persist for a long time. The U.S. government imposed restrictions that prevented the Russian government from using U.S. bank reserves to pay bondholders, pushing Russia toward what increasingly appears to be an imminent default. That made investors more nervous about whether the war in Ukraine will come to a favorable resolution in the near future. As of 7 a.m. ET, futures on the Dow Jones Industrial Average (DJINDICES: ^DJI) were down 91 points to 34,738. S&P 500 (SNPINDEX: ^GSPC) futures had dropped 13 points to 4,565, while Nasdaq Composite (NASDAQINDEX: ^IXIC) futures had lost 46 points to 15,118.
However, an area of the stock market that many investors have stopped paying such close attention to lately managed to show some signs of life. Cruise ship stocks took a huge hit during the first two years of the COVID-19 pandemic, and their recovery has been slow in coming. The latest news from some key players in the industry, however, suggest that consumer demand for cruises is still strong and should help bolster cruise ship operators over time.
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Source Fool.com
