What's Going On With Carnival Stock?

Carnival Corp CCL shares are trading lower by 5.9% to $11.76 Wednesday afternoon, despite a lack of company-specific news for the session. The stock is down amid weakness in the major indexes.

Stocks across sectors may be under pressure due to rising Treasury yields, weakness in Morgan Stanley following its third-quarter earnings and softer-than-expected housing start data.

Shares of airline and cruise stocks are volatile in recent sessions amid the Israel-Hamas conflict, which has caused travel uncertainty and U.S. airlines suspending flights to Israel.

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Why This Matters To Carnival Investors

• An increase in Treasury yields can make fixed-income investments more attractive compared to stocks, leading investors to shift their investments. When yields rise, it can create pressure on equities, including those of companies like Carnival.
• Weakness in the housing market can be seen as a sign of broader economic challenges, which can lead investors to be cautious and reduce their holdings in stocks like Carnival.
• The Israel-Hamas conflict can create uncertainty in the travel industry, including cruise stocks. Travel bans, suspensions or safety concerns related to geopolitical conflicts can impact companies that rely on travel and tourism.

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According to data from Benzinga Pro, Carnival has a 52-week high of $19.55 and a 52-week low of 7.53.