Why Cruise Line Stocks Tumbled Today
Shares of cruise line stocks Norwegian Cruise Line Holdings (NYSE: NCLH), Carnival Corporation (NYSE: CCL), and Royal Caribbean (NYSE: RCL) fell in near lockstep Monday morning, down 4.7%, 5.2%, and 5.4%, respectively, as investors succumbed to jitters ahead of the coming Q2 earnings season.
They may be right to be worried.
A whole raft of disturbing economic news is shaking the market today, with Friday's strong jobs report -- which you might think investors would take as good news -- instead being taken as bad news because more workers earning and spending more money puts upward pressure on inflation. Analysts now think that May's moderating 8.6% inflation rate reversed and inched back up to about 8.8% in June -- a number that may or may not be confirmed as early as Wednesday.
Source Fool.com
