Cruise stocks lead S&P 500 in gains, as Carnival sees biggest gain in 23 months

cruise stocks lead sp 500 in gains as carnival sees biggest gain in 23 months

Shares of Carnival Corp. CCL, +13.15% soared 13.7% in afternoon trading, to bounce off the previous session’s 30-year closing low, and enough to be the S&P 500’s SPX, +2.76% third-biggest gainer. The two bigger gainers were fellow cruise operators, as shares of Royal Caribbean Group RCL, +16.41% ran up 15.4% and Norwegian Cruise Line Holdings Ltd. NCLH, +16.58% hiked up 16.8%. Carnival’s stock, which was headed for the biggest one-day gain since the record 39.3% gain on Nov. 9, 2020, had closed Monday at the lowest price since Oct. 15, 1992, in the wake of a hugely disappointing earnings report. The rally in the cruise stocks comes as the S&P 500 surged 2.9%, after rallying 2.6% on Monday, after closing at a 23-month low on Friday.

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