Why Carnival Corp. Shares Are Rising Today

Why Carnival Corp. Shares Are Rising Today

Carnival Corp. CCL shares are trading higher amid strength in cruise stocks after the CDC recently ended its COVID-19 cruise ship program. The stock is also gaining amid strength in travel names due to positive overall market sentiment.

What Happened?

The CDC recently indicated its COVID-19 program for cruise ships is no longer in effect as of July 18, allowing cruise lines to 'manage their own COVID-19 mitigation.'

The stock also appears to be gaining amid overall market strength. Recent earnings reports from large US companies have raised market sentiment going into the earnings season despite macroeconomic concerns.

See Also: Why Pagaya Technologies Shares Are Soaring - Benzinga

Worse-than-expected June CPI data reported last week has caused recession concerns and fears of more aggressive Fed policy, which could impact economic growth. Markets have seen a bit of relief this week following earnings reports from Goldman Sachs GS and Netflix NFLX.

According to data from Benzinga Pro, Carnival Corp. has a 52-week high of $27.39 and a 52-week low of $8.10. At the time of publication, shares were trading 3.87% higher at $10.76. 

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