Skip to main content

Coronavirus Update: Why Carnival Was a Bright Spot in Thursday's Selloff

Publish date:
Video Duration:

Good morning, it’s Friday, Sept. 4. Here’s your daily coronavirus update.

According to Johns Hopkins, there are over 26.3 million cases of the virus worldwide, with over 869,000 deaths. The U.S. has surpassed 6.1 million cases with over 186,000 deaths.

Per the COVID-19 Tracking Project, there were 44,294 new cases reported Thursday, which is up from the 30,604 reported on Wednesday. 723,524 new tests were reported. And 1,073 deaths were reported yesterday, which marks the third day in a row with deaths over 1,000 in the U.S. this week.

On Thursday, there was a major selloff led by tech. But one of yesterday’s few winners was Carnival and here’s why.

The company reiterated its plans for its Italy-based Costa Cruises line to restart sailing Sunday and for its Germany-based AIDA Cruises line to restart Nov. 1.

Carnival originally announced the Costa Cruises resumption Aug. 13 and the AIDA resumption Aug. 28.

And this could signal a sign to investors and the CDC that, if the cruises can resume without a COVID-19 outbreak, that this could at least pave the way for cruises in the U.S.

Jim Cramer on Real Money Thursday wrote, “You have a reopening of America trade going on with the cruise ships: Royal, Norwegian and Carnival. Of course, that is directly contradictory to the bonds. But it is also possible that we have reached a tipping point, in which there are enough vaccines in trial that one sticks.”

You can follow Katherine Ross on Twitter at @byKatherineRoss.

Read more from Katherine Ross here.

Latest Videos From TheStreet and Jim Cramer:

Related Videos