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.