Cruise stocks surge after CDC announces ‘phased approach’ to cruises after no-sail order expires

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Shares of cruise operators surged Friday, to buck the sharp selloff in the broader market, after the Centers for Disease Control and Prevention (CDC) chose not to extend its full no-sail order, and has instead gone with a “phased approach” to resuming cruise operations. The CDC’s no-sail order expires on Oct. 31. Shares of Carnival Corp. ran up 6.4%, Royal Caribbean Group jumped 4.8% and Norwegian Cruise Line Holdings Ltd. climbed 5.5%, at a time when the S&P 500 sank 2.2%. After the no-sail order expires, the initial phases of the resumption of cruise ship operations will consist of testing and additional safeguards for crew members. The next phases will include simulated cruises to test the operators’ ability to limit COVID-19 risk.
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