Why Royal Caribbean Group And Norwegian Cruise Line Holdings Stock Are Trading Higher Today

Royal Caribbean Cruises Ltd RCL and Norwegian Cruise Line Holdings Ltd NCLH shares are trading higher by 4.67% to $32.74 and 5.46% to $11.79 going into the close of Friday's trading session amid a rebound in travel stocks. Recession fears have weighed on the sector in recent sessions.

What Happened?

Market indexes are higher as investors assess today's bank earnings and retail sales data. Markets also continue to assess inflation concerns and Fed policy outlook. Heightened US inflation has raised concerns of aggressive Fed policy tightening, which would pressure economic growth.

Why it Matters

Worse-than-expected June CPI data has also caused recession concerns and concerns of more aggressive Fed policy, which could impact consumer spending. The Consumer Price Index rose 9.1% for the month of June, above estimates of 8.8%.

According to data from Benzinga Pro: 

• Royal Caribbean Group has a 52-week high of $98.27 and a 52-week low of $31.09.
• Norwegian Cruise Line Holdings has a 52-week high of $29.45 and a 52-week low of $10.31.