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Saturday, June 06, 2020 2:09:43 PM
As of 1:30 p.m. EDT, shares of Carnival (NYSE:CCL), Royal Caribbean (NYSE:RCL), and Norwegian Cruise Line Holdings (NASDAQ:NCLH) were all up more than 20%.
So what
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%.
These surprising job numbers ignited a sharp rally in the stock markets, with all of the major indexes enjoying gains of at least 2%. The news also helped to further the rally in travel-related stocks, which followed American Airlines' (NASDAQ:AAL) announcement on Thursday that it would increase its number of domestic flights in July due to a sharp rebound in passenger traffic in May.
Three cruise ships in clear blue water.
CRUISE SHIP STOCKS SOARED ON FRIDAY. IMAGE SOURCE: GETTY IMAGES.
Now what
A quicker economic recovery would certainly be beneficial to the cruise ship industry, which depends on customers having enough discretionary income to spend on vacations. And if people are willing to fly on planes during the coronavirus pandemic, as American Airlines' traffic metrics suggest, then they also may be willing to book cruises. That, too, bodes well for Carnival, Royal Caribbean, and Norwegian Cruise Line Holdings.
Recent CCL News
- SEABOURN AND WUNAMBAL GAAMBERA TRADITIONAL OWNERS NAME ULTRA-LUXURY EXPEDITION SHIP, SEABOURN PURSUIT, WITH IMMERSIVE EXPEDITION NAMING CEREMONY IN KIMBERLEY, AUSTRALIA • PR Newswire (US) • 07/01/2024 01:00:00 PM
- Love by Britto High-End Specialty Restaurant Officially Opens Onboard New Sun Princess • PR Newswire (US) • 06/28/2024 01:30:00 PM
- Princess Cruises Launches Cruise Industry's Best Price Guarantee on 2025 & 2026 Cruises • PR Newswire (US) • 06/27/2024 01:30:00 PM
- CARNIVAL CORPORATION & PLC REPORTS RECORD SECOND QUARTER REVENUES, OPERATING INCOME AND BOOKING LEVELS, OUTPERFORMS SECOND QUARTER GUIDANCE AND RAISES FULL YEAR 2024 GUIDANCE • PR Newswire (US) • 06/25/2024 01:15:00 PM
- U.S. Index Futures Mixed Following Tech Sell-Off, WTI and Brent Crude Dip Slightly • IH Market News • 06/25/2024 10:37:15 AM
- Princess Cruises Unveils Exclusive VIP Package for "The Love Boat" Celebration at Sea Cruise with Revered Original Cast • PR Newswire (US) • 06/21/2024 01:30:00 PM
- Holland America Line Partners with Lindt to Savor Special Moments On Board • PR Newswire (US) • 06/20/2024 01:30:00 PM
- Double Cruise Credits for Captain's Circle Guests with Princess Cruises' New Loyalty Accelerator Program • PR Newswire (US) • 06/20/2024 01:30:00 PM
- Holland America Line Partners with Lindt to Savor Special Moments On Board • PR Newswire (Canada) • 06/20/2024 01:30:00 PM
- Plugging In: Carnival Corporation Celebrates Shore Power Launch at PortMiami After Exceeding Industry-Leading Milestone • PR Newswire (US) • 06/17/2024 09:18:00 PM
- Holland America Line's McKinley Chalet Rolls Out New Menus as the Denali-Based Resort Achieves Sustainable Seafood Certification • PR Newswire (US) • 06/17/2024 01:59:00 PM
- Holland America Line's McKinley Chalet Rolls Out New Menus as the Denali-Based Resort Achieves Sustainable Seafood Certification • PR Newswire (Canada) • 06/17/2024 01:59:00 PM
- Cunard Celebrates Record Bookings Following Queen Anne Launch • PR Newswire (US) • 06/11/2024 08:32:00 PM
- Cunard Celebrates Record Bookings Following Queen Anne Launch • PR Newswire (Canada) • 06/11/2024 08:32:00 PM
- CARNIVAL CORPORATION & PLC TO HOLD CONFERENCE CALL ON SECOND QUARTER EARNINGS • PR Newswire (US) • 06/11/2024 01:15:00 PM
- Cunard celebrates record bookings following Queen Anne launch • PR Newswire (US) • 06/11/2024 10:17:00 AM
- Cunard Reveals 2025 Event Voyages Program • PR Newswire (US) • 06/10/2024 05:53:00 PM
- Cunard Reveals 2025 Event Voyages Program • PR Newswire (Canada) • 06/10/2024 05:53:00 PM
- Holland America Line's Eurodam Featured on Bravo's 'Top Chef' Airing June 12 • PR Newswire (Canada) • 06/06/2024 02:00:00 PM
- Holland America Line's Eurodam Featured on Bravo's 'Top Chef' Airing June 12 • PR Newswire (US) • 06/06/2024 02:00:00 PM
- Princess Cruises Named Official Cruise Line Partner of the Academy of Country Music • PR Newswire (US) • 06/05/2024 01:30:00 PM
- Holland America Line Sails Into Summer with Offer of 40% Off Cruise Fares, Onboard Spending Credit and Free Third and Fourth Guests • PR Newswire (Canada) • 06/04/2024 01:00:00 PM
- Holland America Line Sails Into Summer with Offer of 40% Off Cruise Fares, Onboard Spending Credit and Free Third and Fourth Guests • PR Newswire (US) • 06/04/2024 01:00:00 PM
- Carnival Corporation to Strategically Align Portfolio and Absorb P&O Cruises Australia into Carnival Cruise Line • PR Newswire (US) • 06/03/2024 11:15:00 PM
- Carnival Corporation to Strategically Align Portfolio and Absorb P&O Cruises Australia into Carnival Cruise Line • PR Newswire (US) • 06/03/2024 11:15:00 PM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM