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Cruise line stocks rose for the fourth consecutive trading session on Monday as general market enthusiasm and recent cruise line pricing updates bolstered sentiment.
Royal Caribbean Cruises (NYSE:RCL) +3.95%, Norwegian Cruise Line Holdings (NCLH) +5.44%, and Carnival Corporation (CCL) +2.99% were all the near the top of the list of leading gainers in the S&P 500 Index. All three major indices rose on Monday to build upon their recent rally triggered by the release of the government’s monthly jobs report, which pointed to signs of potential softening in the labor market, and the upcoming CPI report, which is expected to show another month of the inflation rate cooling off.
The cruise line sector is off to a strong start to 2023 in general with Carnival up 19%, Royal Caribbean (RCL) 17% higher, and Norwegian Cruise Line Holdings (NCLH) showing a 16% gain. See the advanced chart on the cruise line sector.