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Why Cruise Line Stocks Sailed Higher This Morning


Entertainment stocks had a great start to the day on Wednesday, and cruise line stocks were no different. A lower-than-expected reading of inflation is pushing the market higher, and these are some of today's leaders. 

Shares of Carnival (NYSE: CCL) were up as much as 11.5% in early trading, while Norwegian Cruise Line Holdings (NYSE: NCLH) jumped 13.2% and Royal Caribbean Cruises (NYSE: RCL) was up 10.6%. Shares of the companies were up 11.1%, 12.7%, and 10.3% respectively at 11:20 a.m. ET. 

The topic of the day is inflation. So far this year, the market has been worried about the impacts of inflation on spending and the reaction by the Federal Reserve to increase rates to combat inflation. For now, it looks as if inflation is easing. 

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Source Fool.com

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