Markets
Carnival Legend ship
(Carnival)

Cruise stocks set sail as trade optimism lifts travel names

Travel stocks have been under pressure from softer spending and economic jitters.

Nia Warfield

Cruise stocks rallied Monday, with shares of Carnival, Norwegian Cruise Line, and Royal Caribbean heading higher after a temporary US-China trade agreement lifted broader market sentiment. The travel industry has been under pressure, but the deal gave investors a bit of optimism heading into peak vacation season.

Carnival recently topped Q1 estimates with record profits but offered a more cautious full-year outlook. Royal Caribbean also beat and raised guidance, while Norwegian came up short last month as both ticket sales and onboard spending cooled. 

While cruise lines are mostly free from tariff costs, their services are largely discretionary and depend heavily on consumer confidence, which recently hit its lowest level since 2020. Still, the industry is coming off back-to-back record booking years, with expanding fleets, more premium offerings, and first-timers continuing to book.

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