Cruise stocks surge after Moderna reports upbeat news its COVID-19 vaccine candidate

Shares of cruise operators charged higher Monday, after Moderna Inc.’s MRNA, +1.79% said its COVID-19 vaccine candidate demonstrated better-than 94% efficacy in a Phase 3 trial. Shares of Carnival Corp CCL, +7.23% shot up 6.9% in premarket trading, after being up about 4.7% prior to Moderna’s news. Royal Caribbean Group’s stock RCL, +3.68% ran up 6.5% ahead of the open and Norwegian Cruise Line Holdings Ltd. shares NCLH, +6.41% surged 9.0%. Meanwhile, futures ES00, +1.02% for the S&P 500 SPX, +1.36% rallied 1.2%. Cruise operators have been among the hardest hit by the COVID-19 pandemic, as they have struggled to resume operations amid government restrictions in the U.S. and abroad.

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