Shares of cruise operators soared in premarket trading, putting them on track to extend their winning streaks to three sessions, as part of a broad-market rally inspired by data showing slowing growth of the COVID-19 virus, the start of phase-in reopenings of businesses and upbeat comments from the Federal Reserve chairman. Shares of Royal Caribbean Cruises Ltd. RCL, +6.54% ran up 9.8%, Norwegian Cruise Line Holdings Ltd.
[s; nclh] shot up 8.2% and Carnival Corp. CCL, +4.15% climbed 9.0%. Meanwhile, futures YM00, +3.20% for the Dow Jones Industrial Average DJIA, +0.25% were pointing toward a 689-point, or 2.9%, jump ahead of the open. On Friday, the cruise stocks rallied after some Wall Street analysts were mostly upbeat on the sector, with J.P. Morgan saying he believed cruise demand among more loyal customers remained intact, while investor sentiment likely hit bottom.