Why Carnival (CCL) Stock Is Seeing Blue Skies


Carnival Corp CCL shares are trading higher by 2.42% to $10.60 going into the close of Monday's trading session. Shares of several companies in the hotel, restaurant & leisure space are trading higher as stocks continue to rise following last week's CPI report. Lighter-than-expected inflation has led to hopes of softer Fed rate hikes, which could cause less of a negative impact on consumer spending.

What Happened With CPI Data?

The headline CPI rose 7.7% in October, down from 8.2% in September, according to data from the U.S. Bureau of Labor Statistics.

The October CPI reading came in below average economist estimates of 8%.

Thursday's highly anticipated CPI inflation reading comes a week after the Federal Reserve raised its benchmark rate by 0.75% for the fourth straight time in a continued fight against historically high inflation...Read More

According to data from Benzinga Pro, CCL has a 52-week high of $23.86 and a 52-week low of $6.11.

Market News and Data brought to you by Benzinga APIs
Posted In: MoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!