Why Carnival Corp. Shares Are Rising Today

Carnival Corp. CCL shares are trading higher amid strength in cruise stocks after the CDC recently ended its COVID-19 cruise ship program. The stock is also gaining amid strength in travel names due to positive overall market sentiment.

What Happened?

The CDC recently indicated its COVID-19 program for cruise ships is no longer in effect as of July 18, allowing cruise lines to 'manage their own COVID-19 mitigation.'

The stock also appears to be gaining amid overall market strength. Recent earnings reports from large US companies have raised market sentiment going into the earnings season despite macroeconomic concerns.

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Worse-than-expected June CPI data reported last week has caused recession concerns and fears of more aggressive Fed policy, which could impact economic growth. Markets have seen a bit of relief this week following earnings reports from Goldman Sachs GS and Netflix NFLX.

According to data from Benzinga Pro, Carnival Corp. has a 52-week high of $27.39 and a 52-week low of $8.10. At the time of publication, shares were trading 3.87% higher at $10.76.