BUZZ - As crude oil prices plummet, US airline and cruise stocks rise

November 2 - ** As oil prices plummeted by over 6%, shares of U.S. airlines and cruise operators rose

** Cruise operators: Carnival Corp CCL.N rose 3.4%, Royal Caribbean Group RCL.N gained 2.9%, Norwegian Cruise Line Holdings NCLH.N was up 2.1%, and expedition cruise operator Lindblad Expeditions Holdings LIND.O climbed 1.6%

** Airline stocks broadly increased, led by Allegiant Air ALGT.O with a rise of 6.6%; Frontier Airlines ULCC.O was up 6.3%; JetBlue Airways JBLU.O increased 5.8%

** United Airlines UAL.O gained 4.2%, while American Airlines AAL.O, Alaska Air Group ALK.N, and Southwest Airlines LUV.N posted gains between 3.1% and 3.7%

** Crude oil LCOc1, CLc1 slid over 6% O/R amid signs of progress in U.S.-Israel and Iran peace talks to end conflict

** Iranian President Masoud Pezeshkian stated that Supreme Leader Ayatollah Mojtaba Khamenei has granted the government specific authority to conduct peace negotiations

** Fuel is a major operating cost for airlines and cruise operators

** After factoring in today's price gains, the S&P 1500 Passenger Airlines Composite Index .SPCOMAIR is up approximately 5% for the year, compared to an 11.4% rise in the S&P 500 Index .SPX over the same period

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