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MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

Why AMC Entertainment, Carnival, and Norwegian Cruise Lines Dropped Today

Billy Duberstein, The Motley Fool
·4 min read

Shares of AMC Entertainment (NYSE: AMC), Carnival (NYSE: CCL), and Norwegian Cruise Lines (NYSE: NCLH) fell again on Wednesday after a tough month of June, down 3.3%, 6.3%, and 9.9%, respectively, as of 1 p.m. ET. First, each is a consumer discretionary stock, and it's clear consumers are cutting back amid high inflation for food and fuel. Not only do they now have the added burden of interest expenses, but with interest rates now higher, any refinancing would be expensive.

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