At 12:41 PM, ET time today Norwegian Cruise Line Holdings Ltd. (NCLH) stock is down more than 12%, at 15.77-2.26 (-12.53%). Royal Caribbean Cruises Ltd. (RCL) stock is down more than 11% with a stock price of 48.28-6.08 (-11.18%).
At 12:42 PM, ET time today Carnival Corporation & Plc (CCL) stock is down more than 10% having a stock price of 16.11-1.89 (-10.49%).
Stock market data: Yahoo Finance
News that coronavirus cases have increased on some US stated and also globally have a negative impact on cruise lines today.
“Dow Jones Industrial Average rises 91 points The Dow gained 91.91 points, or 0.36%, to close at 25,475.02. The S&P 500 advanced 0.38% to 3,055.73. The Nasdaq Composite climbed 0.66% to 9,552.05. Stocks closed higher to start the new month amid mounting bets on a successful economic reopening.
Wall Street starts June on positive note, but risks remain The market picked up right where it left off, building on the strong gains from April and May. “Equity markets continue to display remarkable resilience in the face of a constant barrage of troubling developments, with investors continuing to focus on the positive signs of reopening,” says one analyst. However, investors still face several risks, including that of a second wave of coronavirus and protests across the U.S., both of which can derail the recent optimism about the economic recovery.”
Coty Inc. (COTY) stock rose more than 20%, with a stock price at the close of 4.3900+0.7600 (+20.94%). Norwegian Cruise Line Holdings Ltd. (NCLH) stock rose more than 10%, closing at 17.28+1.62 (+10.34%).
Norwegian Cruise Line Holdings Ltd. (NCLH) stock daily chart
Allied Esports Entertainment Inc. (AESE): 3.96,+ 1.51 +61.63% VirTra Inc. (VTSI): 3.40,+ 1.13 +49.78% Amyris Inc. (AMRS): 5.35, +1.62 +43.43%
Iterum Therapeutics PLC (ITRM): 1.70, -2.51 -59.62% China Jo-Jo Drugstores Inc. (CJJD): 1.36, -1.21, -47.08% ARCA biopharma Inc. (ABIO): 9.20, -3.40 -26.98%
Most active stocks
General Electric Co. (GE): 6.76,+ 0.19, +2.89% Allied Esports Entertainment Inc. (AESE): 3.96, +1.51, +61.63% Pfizer Inc. (PFE): 35.46, -2.73 -7.15%
“Rally evaporates in final hour, Dow down 150, social media stocks drop.Stocks started the day higher in what looked like would be another session of strength, but a sell-off late in the day sent the major averages into negative territory and they closed in the red. The move lower was sparked by President Donald Trump announcing that he will hold a press conference on China on Friday as geopolitical tensions rise, prompting some investors to fear that the U.S.-China trade deal may face hurdles.”
The US stock market fell on May 21, 2020 after another weak initial jobless claims report was released. “U.S. Stocks Lose Some Momentum, Fall Amid Weak Data. After big gains earlier in the week, indexes drift lower as 2.4 million Americans filed for unemployment benefits. U.S. stocks slipped Thursday, paring gains from earlier in the week after data showed another wave of Americans applied for unemployment benefits because of the coronavirus pandemic.”
Tilray, Inc. (TLRY) stock was among stock movers with a stock price of 9.65+1.60 (+19.88%). Other stocks that moved were Signature Aviation plc (BBAVF) with a stock price of 4.1000+1.5400 (+60.16%) and Federal National Mortgage Association (FNMFM) stock closing at 14.53+2.53 (+21.08%).
Stocks that were top gainers, top losers and most active:
Surface Oncology Inc. (SURF):5.95,+ 2.07 +53.35% Aurora Cannabis Inc. (ACB): 17.40,+4.65 +36.47% LMP Automotive Holdings Inc. (LMPX) 9.54,+2.43 +34.18%
Luckin Coffee Inc. ADR (LK): 2.01, -0.81 -28.72% ShiftPixy Inc. (PIXY): 5.36, -1.80 -25.14% Entera Bio Ltd. (ENTX): 2.08, -0.62 -23.03%
Most active stocks
Luckin Coffee Inc. ADR (LK): 2.01, -0.81 -28.72% Surface Oncology Inc. (SURF): 5.95,+ 2.07 53.35% Norwegian Cruise Line Holdings Ltd. (NCLH): 14.03, 1.25 +9.78%
“Shares of cruise operators rallied again Wednesday, with Royal Caribbean Cruises Ltd. rcl leading the way higher in afternoon trading. Royal Caribbean’s stock ran up 10.4%, after rocketing 37.6% the over the previous two days; Carnival Corp. shares ccl surged 5.0 after soaring 41.8% over the previous three sessions; and Norwegian Cruise Line Holdings Ltd.’s stock nclh hiked up 4.6% after shooting 31.1% higher the previous three sessions. The gains comes as the S&P 500 spx rallies 3.0%. Instinet analyst Harry Curtis said based on his new cash burn and recovery forecasts for the cruise industry through 2023, he believes all three companies have enough liquidity and borrowing capacity to survive near-zero revenue through the first quarter of 2021. “Many times we’ve been asked about bankruptcy, and we believe it to be low,” Curtis wrote in a note to clients. He expects a “modest” recovery for the industry to begin in the second half of 2020, with the first quarter of 2021 the possible “turning point.” Curtis said there may be 70% to 90% upside in the stocks over the next three years.”
Stock market news, US stock market, March 11, 2020
“It’s officially a bear market, as major indices dive another 5%. On Wednesday, the Dow closed in a bear market, down over 5% (and down 20% from its intraday high last month), while the S&P 500 closed down nearly 5%. At midweek, markets have been on an exhaustingly volatile path, as major indexes plummeted over 7% on Monday, recovered up around 5% on Tuesday, and down about 5% on Wednesday.”, Source: https://fortune.com/2020/03/11/stock-market-coronavirus-bear-market-official-dow-jones-sp-500/
How stock market, US stocks closed on Wednesday, March 11, 2020-Financial and business news
S&P 500: 2,741.38,-140.85(-4.89%)
Dow 30: 23,553.22,-1,464.94(-5.86%)
Russell 2000: 1,264.30,-86.60(-6.41%)
Stocks biggest gainers
Vir Biotechnology, Inc. (VIR) was among stocks biggest gainers closing at 33.77+3.86 (+12.91%).
Stocks biggest losers
Norwegian Cruise Line Holdings Ltd. (NCLH) was among stocks biggest losers closing at 15.03-5.47 (-26.68%).
Stock investing | Stock trading | Most active stocks
Vale S.A. (VALE) was among most active stocks closing at 8.50-0.90 (-9.57%).
U.S. Sectors & Industries Performance
With the stock market selloff and the continuous selling pressure for stocks, all sectors closed lower. Health Care was the best performing sector -3.91%, Industrial was the worst perfoming sector -5.95%.
Notable earnings today include Slack Technologies, Inc. (WORK).
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