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☆ Your next landlord may be a pro sports team
▼ + stars: | 2024-02-08 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

But team owners in recent years have turned to real estate development to bring in extra cash and drive up the asset values of their franchises. “It makes perfect sense for a team owner to play real estate,” said Propheter. “That means that team owners do have a lot of leverage,” he said. “Stadium subsidies transfer wealth from the general tax base to billionaire team owners, millionaire players, and the wealthy cohort of fans” who regularly attend games. “Generally speaking, the people who come off well are the team owners and the developers,” Zimbalist said.

Persons: ”, Geoffrey Propheter, Daniel Slim, “, Andrew Zimbalist, Louis, Harry Cabluck, Bruce Ratner, Stan Kroenke, Matthew Grimes Jr, Steve Cohen, Mark Cuban’s, Adelson, “ I’m, ” Zimbalist Organizations: New, New York CNN, Professional, Billionaire, University of Colorado Denver, Sofi, Getty, Washington Wizards, Capitals, Sweet, Smith College, Riverfront, Busch, Baltimore Orioles, Camden, Barclays Center, Nets, Los Angeles Rams, “ Battery, Atlanta Braves, Golden State Warriors ’ Chase Center, Texas Rangers, Globe, Arlington, New York Mets, Hard, Citi Field . Dallas Mavericks, Vegas Sands Corp, Management Locations: New York, North America, Inglewood , California, AFP, Washington, Alexandria , Virginia, Cincinnati, St, Pittsburgh, Brooklyn, New Jersey, ”, “ Battery Atlanta ”, Truist, Atlanta, San Francisco, “, City, Arlington , Texas, ” Cuban

☆ The 4 most important things we're watching in the stock market this coming week
▼ + stars: | 2024-01-20 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Fortunately, we'll get useful information in the coming weeks as earnings season ramps up and updated inflation data is released. We really want to see more supply come into the market to provide some relief on shelter costs. Looking to next week, we'll get a several key economic updates and a ramp up of earnings releases. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Morgan Stanley, we'll, Procter & Gamble, we've, We're, we're, We'll, Forex, Brown, BRO, Zions, CrossFirst, Johnson, Lockheed Martin, Horton, ERIC, Baker Hughes, Abbott, ABT, Clark, BOK, Monro, Simmons, United Community Banks, Lam, Ethan Allen Interiors, Raymond James Financial, Sherwin, Williams, Northrop, Murphy, Arthur J, Levi Strauss, LEVI, Booz Allen, Jim Cramer's, Jim Cramer, Jim, John Gress Organizations: Nasdaq, Microsoft, Nvidia, Tesla, Apple, Bank of America, Reserve, Procter, Gross, Citigroup, of Hawaii, United Airlines, Logitech International S.A, AGNC Investment, Agilysys Inc, Great Southern Bancorp, Enterprise Financial Services, Independent Bank, Home Bancorp, RBB Bancorp, TrustCo Bank Corp, Gamble Co, Verizon Communications, 3M Company, General Electric Co, GE, RTX Corporation, Halliburton Company, HAL, Lockheed, Ericsson, Bank, GATX Corporation, MakeMyTrip, National Bancorp, Synchrony, Webster, Atlantic Union Bankshares Corporation, Invesco PLC, Peoples Bancorp Inc, Sandy Spring Bancorp, Netflix, Texas Instruments Incorporated, Steel Dynamics, Canadian National Railway Company, NBT Bancorp, East West Bancorp, Covenant Logistics Group, Inc, Hanmi, National Bank Holdings Corporation, Premier Financial, QCR Holdings, Renasant Corporation, Triumph, Veritex Holdings, ASML, SAP, Textron, Oriental Education, Technology Group, First BanCorp, General Dynamics, OFG Bancorp, Prosperity, TE Connectivity, United Community, Blue Foundry Bancorp, Capitol Federal, HBT, Teledyne Technologies, Business Machines, IBM, Las Vegas Sands Corp, Lam Research, United Rentals, Berkley Corp, Crown, International, Packaging Corporation of America, Seagate Technology plc, CACI, Swift Transportation Holdings, Ameriprise Financial, Concentrix Corporation, First Bank, Liberty Energy, Pathward Financial, Columbia Banking, CSX, American Airlines Group, NextEra Energy Inc, Alaska Air Group, Dow Chemical Co, Valero Energy, Southwest Airlines Co, Nextera Energy, Williams Co, Union Pacific, Applied Industrial Technologies, Mobileye, Northrop Grumman, Comcast, Nokia, TAL Education, McCormick & Company, Intel, Visa Inc, Gallagher, Co, KLA Corporation, Western Alliance, Mobile, L3Harris Technologies, Western, Olin Corporation, American Express Co, Booz, Booz Allen Hamilton Holding, Colgate, Palmolive Co, Norfolk Southern Corporation, Jim Cramer's Charitable, CNBC, Gamble's Locations: Procter &, U.S, China, ZION, Freeport, Kimberly, Las, W.R, Chicago

Las Vegas Sands and Adelson and Dumont families representative Ron Reese declined Wednesday to comment. Adelson, a physician, rarely gives interviews; in 2021, she told Las Vegas television station KNTV about her work with people fighting addictions. “A good person with good values, though he is totally opposite of us in his political views,” she told the Las Vegas Review-Journal then. The Adelson family owns that newspaper. Major League Baseball owners recently voted to let the Oakland Athletics relocate to Las Vegas, and the city is frequently mentioned as a possible home for an NBA team.

Persons: — Miriam Adelson, powerbroker, Adelson, Dumont, Sands, Patrick Dumont, Mark Cuban, Ron Reese, ” Adelson, “ I'm, Cuban, Miriam Adelson, ”, Sheldon Adelson, Sheldon Adelson's, “, Donald Trump, Trump, Robert Mueller's, “ Miriam, ” Trump, “ You’ve, Michael Milken, Israel Hayom, Benjamin Netanyahu, ” Miriam Adelson, Brad Alberts, “ I’m, ” Alberts, ___ Organizations: LAS VEGAS, Israel, Dallas Mavericks, Las Vegas Sands Corp, NBA, Forbes, Vegas Sands, Adelson, Las, Las Vegas, Sands, Expo, Republican, Cuban, White, Republican Jewish Coalition, Nevada’s, Vegas, Securities and Exchange Commission, Oakland Raiders, Major League Baseball, Oakland Athletics, Mavericks, Las Vegas Sands, NHL's Dallas Stars, Dallas Morning Locations: U.S, Las, Vegas, Las Vegas, Cuban, Israel, New York City, Boston, Sands, Macau, Singapore, Tel Aviv, Russia, Gaza, West, Vegas Sands, Dallas

☆ Adelson family to buy majority share of Dallas Mavericks from Mark Cuban, reports say
▼ + stars: | 2023-11-29 | by ( Kevin Dotson | ) edition.cnn.com time to read: +1 min

CNN —The owner of a casino empire is preparing to buy a majority share of the NBA’s Dallas Mavericks franchise from billionaire businessman Mark Cuban, according to multiple media reports. The Adelson family will purchase a majority share of the Mavericks from Cuban for $3.5 billion, according to media reports that cited sources familiar with the deal. The deal will reportedly see Cuban retain partial ownership of the Mavericks franchise and remain in control of the team’s basketball operations. A spokesperson for the Mavericks referred all inquiries to the Adelson family. CNN has sought comment from Las Vegas Sands Corp.

Persons: Mark Cuban, Miriam Adelson, Adelson, Cuban Organizations: CNN, Dallas Mavericks, Vegas Sands Corp, Securities and Exchange Commission, Las, Mavericks, Cuban, NBA, Las Vegas Sands Corp Locations: Sands, Nevada, Macao, Singapore, Las

Dallas Mavericks owner Mark Cuban is working on a deal to sell a majority stake in the NBA franchise to the family that runs the Las Vegas Sands casino company, a person with knowledge of the talks said Tuesday night. Miriam Adelson is the controlling shareholder of Las Vegas Sands Corp., a publicly traded Las Vegas company that built the Venetian and Palazzo resorts but now only has casino operations in Macau and Singapore. Sheldon Adelson, the billionaire founder and owner of Las Vegas Sands, died in 2021 at 87. The family also owns Nevada’s largest newspaper, the Las Vegas Review-Journal. ___Associated Press writer Ken Ritter in Las Vegas contributed to this report.

Persons: Mark Cuban, Marc Stein, Miriam Adelson, Sheldon Adelson, Cuban, Dallas, Dirk Nowitzki, Adelson, Ken Ritter, ___ Organizations: Dallas Mavericks, NBA, Vegas Sands, Associated Press, Cuban, Sands, Mavericks, Las Vegas Sands Corp, Las Vegas, Securities and Exchange Commission, Miriam Adelson Trust, SEC, league’s, Governors, Republican, doesn't, Indiana University Locations: Texas, Las, Macau, Singapore, Las Vegas Sands, Cuban, Dallas, Las Vegas

ATLANTIC CITY, N.J. (AP) — Steve Norton, who ran the first U.S. gambling facility outside Nevada — Resorts casino in Atlantic City — and gave advice around the world on how to set up and operate casinos, has died. His son, Rob, president of Cordish Gaming, said Norton died Sunday following an accident in his Oceanside, California, home. “Steve was an early and influential gaming executive in Atlantic City and at Resorts,” said the casino's current president, Mark Giannantonio. “He was an important leader in the Atlantic City market dating back to the 1970s. Norton used his experience as an Atlantic City casino pioneer to advise state governments — including in Louisiana, Illinois and Indiana — on how to adopt riverboat gambling, and in 1998 founded his own gambling consultancy company based in Indiana.

Persons: Steve Norton, Rob, Norton, Steve, ”, Mark Giannantonio, ” Norton, “, Sheldon Adelson’s, ___, Wayne Parry Organizations: CITY, Nevada — Resorts, Atlantic City —, Cordish, Resorts, Boardwalk, Associated Press, ” Resorts, Atlantic, Vegas Sands Corp, Gold River Gaming, Argosy Gaming, Indiana —, American Gaming Association Locations: N.J, Nevada, Atlantic City, Oceanside , California, Atlantic, New Jersey, Bahamas, Las Vegas, Louisiana , Illinois, Indiana, Singapore, South Korea, Kazakhstan, Andorra, Netherlands, www.twitter.com

☆ Casino operator MGM beats third-quarter estimates as China travel rebounds
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

An exterior view of MGM Grand hotel and casino, after MGM Resorts shut down some computer systems due to a cyber attack in Las Vegas, Nevada, U.S., September 13, 2023. REUTERS/Bridget Bennett/File Photo Acquire Licensing RightsNov 8 (Reuters) - MGM Resorts International (MGM.N) beat market estimates for third-quarter profit and revenue on Wednesday, as the casino operator benefited from easing pandemic-related entry restrictions in its key markets. The post-pandemic travel rebound in China and Macau has been a tailwind for casino operators such as MGM Resorts and Las Vegas Sands Corp (LVS.N). "MGM China is performing exceptionally well," MGM's CEO Bill Hornbuckle said in the statement. Last month, MGM had said it expects a $100 million hit to its third-quarter results after a cyberattack disrupted its operations, forcing a shutdown of its systems.

Persons: Bridget Bennett, Bill Hornbuckle, Priyamvada, Shilpi Majumdar Organizations: MGM, MGM Resorts, REUTERS, MGM Resorts International, Vegas Sands Corp, Wynn Resorts, Thomson Locations: Las Vegas , Nevada, U.S, China, Macau, MGM China, Bengaluru

Miriam Adelson listens to Republican U.S. presidential candidate and former U.S. President Donald J. Trump during the Republican Jewish Coalition Annual Leadership Summit in Las Vegas, Nevada, U.S. October 28, 2023. The previously unreported meeting during a gathering of Republican Jewish donors is likely a positive sign for Haley given Adelson's status as one of the pre-eminent Republican donors. Israeli-born Adelson also met with Trump in Las Vegas over the weekend. It was not immediately clear what other presidential candidates, if any, Adelson met. Sheldon Adelson, who died in 2021, headed the casino company Las Vegas Sands Corp (LVS.N).

Persons: Miriam Adelson, Donald J, Steve Marcus, Nikki Haley, Haley, Adelson, Sheldon Adelson, Ron DeSantis, Jan, Joe Biden, DeSantis, Alexandra Ulmer, Ross Colvin, Rod Nickel Organizations: Republican U.S, Trump, Republican Jewish Coalition, Leadership, REUTERS, Casino, Florida, Republican, Democratic, Forbes, Center for Responsive, Vegas Sands Corp, Thomson Locations: Las Vegas , Nevada, U.S, Las Vegas, Iowa, Israel

☆ Las Vegas Sands beats Wall Street estimates on ongoing tourism recovery in Macau
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

The logo of Las Vegas Sands Corp is pictured at the Japan IR EXPO in Yokohama, Japan January 29, 2020. REUTERS/Kim Kyung-Hoon Acquire Licensing RightsOct 18 (Reuters) - Las Vegas Sands Corp (LVS.N) reported better-than-expected profit and revenue for the third quarter on Wednesday, as ongoing ramp up of outbound tourism to Macau and Singapore spurred gaming volumes and retail sales. Shares of the casino operator, which has operations in Macau and Singapore, rose 5.13% in trading after the bell. Both Macau and Singapore have seen tourism soar after pandemic restrictions eased, with visitation to Macau surpassing three million in August for the first time since the pandemic. With tourism close to pre-pandemic levels, Las Vegas Sands has benefited from a business mix comprising a greater share of the mass segment as opposed to VIP in its properties – Marina Bay Sands in Singapore and The Londoner and The Venetian in Macau.

Persons: Kim Kyung, Robert Goldstein, Ananta Agarwal, Shailesh Organizations: Vegas Sands Corp, REUTERS, Thomson Locations: Japan, Yokohama, Macau, Singapore, Vegas, Bay Sands, Macao, Bengaluru

☆ These 10 stocks have the most exposure to China's 'stalling' economy, BofA warns
▼ + stars: | 2023-09-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

China's "stalling" economy is putting some US companies at risk, according to Bank of America. The bank highlighted the top 10 stocks that have the most revenue exposure to China. Applied MaterialsApplied Materials’ new corporate signage photo in Santa Clara California ReutersTicker: AMATMarket value: $122.6 billionRevenue exposure to China: 33%9. Wynn ResortsAdvertisementAdvertisementFILE PHOTO: Wynn Resorts Ltd property in Las Vegas ReutersTicker: WYNNMarket value: $10.7 billionRevenue exposure to China: 40%4. ReutersTicker: LVSMarket value: $38.2 billionRevenue exposure to China: 67%Other companies that have considerable revenue exposure to China include: Intel (27%), Tesla (26%), and Nvidia (26%).

Persons: Savita Subramanian, Santa Clara California, Lam, Shanghai Aly Song Organizations: Bank of America, Service, Santa Clara California Reuters, Broadcom Reuters, IPG Photonics, Wynn, Wynn Resorts Ltd, Las Vegas Reuters, WYNN, Qualcomm, China, Vegas Sands Corp, Reuters, Intel, Nvidia Locations: China, Wall, Silicon, Santa Clara, Las Vegas, Shanghai, Macau

☆ Las Vegas Sands 2nd qtr revenue beats Wall Street estimates
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: 1 min

NEW YORK, July 19 (Reuters) - Las Vegas Sands Corp (LVS.N) on Wednesday reported second quarter revenue of $2.5 billion, beating Wall Street estimates. The Las Vegas-based casino operator said earnings are benefiting from a return to normalcy in Macao after a delayed rebound in tourism due to China's zero-COVID policy. "We were pleased to see the robust recovery in travel and tourism spending underway in both Macao and Singapore progress during the quarter," Robert Goldstein, Las Vegas Sands' chief executive officer said in a statement. Reporting by Doyinsola Oladipo in New York; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Persons: Robert Goldstein, Doyinsola Oladipo, Chris Reese Organizations: YORK, Vegas Sands Corp, Wall, Las, Las Vegas Sands, Thomson Locations: Vegas, Macao, Singapore, Las Vegas, New York

☆ These are the 3 key things that will impact the stock market in the week ahead
▼ + stars: | 2023-07-15 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

A lot was riding on these important measures of inflation after the scorching-hot ADP jobs report last week. Here are 3 things you need to know for the week ahead: 1. Industrial production and capacity utilization, also out Tuesday, shines a light on manufacturing, which attributes about 12% to U.S. GDP. Six months is generally considered to represent a balance between supply and demand in the housing market. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Morgan Stanley, Johnson, Jeff Miller, Lockheed Martin, Charles Schwab, JB Hunt, Goldman, Baker Hughes, Ally, Kinder Morgan, Zions, Philip Morris, Abbott, ABT, Jim Cramer's, Jim Cramer, Jim, Scott Olson Organizations: Nasdaq, Dow Jones Industrial, Housing, CPI, Halliburton, HAL, Johnson, of America Corp, Lockheed, Lockheed Martin Corp, Novartis International AG, PNC Financial Services Group, Inc, PNC, Charles Schwab Corp, Bank of New York Mellon Corporation, BK, Synchrony, Interactive, Goldman Sachs Group, U.S . Bancorp, ASML, Citizens Financial, T Bank Corp, Northern Trust Corporation, Horizon National Corp, Business Machines Corp, IBM, United Airlines, Netflix, Steel Dynamics, Alcoa, Discover Financial Services, Crown, International Corp, Equifax Inc, Las Vegas Sands Corp, Liberty Energy Inc, Philip Morris International Inc, Taiwan Semiconductor Manufacturing Company, American Airlines Group Inc, Travelers Companies, SAP, Nokia Corp, Truist Financial Corporation, Company, McLennan Companies, Infosys Technologies Ltd, Newmont Mining Corp, Fifth Third Bancorp, Pool Corporation, Alfa Laval, Webster Financial Corp, Blackstone, Financial Corp, PPG Industries, CSX Corp, CSX, Berkley Corp, Swift Transportation Holdings Inc, American Express Co, AutoNation Inc, Interpublic, of Companies, Autoliv Inc, Huntington Bancshares, Financial Corporation, Roper Technologies, Comerica, Jim Cramer's Charitable, CNBC, Getty Locations: U.S, Las, ZION, Horton, Freeport, Marsh, ALFVY, W.R, Lemont , Illinois

☆ Nasdaq futures fall 1% as Tesla earnings disappoint
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures down: Dow 0.43%, S&P 0.72%, Nasdaq 1.04%April 20 (Reuters) - Nasdaq futures slid 1% on Thursday as Tesla shares tumbled after the electric-vehicle maker posted its lowest quarterly gross margin in two years, while investors grew nervous about the outlook for U.S. interest rates. Shares of other megacap stocks such as Apple Inc (AAPL.O), Amazon.com Inc (AMZN.O) and Alphabet Inc (GOOGL.O) fell between 0.7% and 1.2%. Comments from Fed policymakers this week have also supported bets of further tightening by the U.S. central bank. Fed funds futures traders are pricing in an 83% probability of a 25 bps rate hike next month, according to CME Group's Fedwatch tool. ET, Dow e-minis were down 146 points, or 0.43%, S&P 500 e-minis were down 30.25 points, or 0.72%, and Nasdaq 100 e-minis were down 137 points, or 1.04%.

☆ Las Vegas Sands results beat Wall Street estimates
▼ + stars: | 2023-04-19 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +1 min

NEW YORK, April 19 (Reuters) - Las Vegas Sands Corp (LVS.N) on Wednesday reported quarterly revenue that surpassed Wall Street estimates due to recovery in mass gaming and tenant sales. The Las Vegas-based casino operator said traffic is rebounding in Singapore and Macao, and it expects further improvement in travel and tourism spending from China as airline capacity rebounds. "While travel restrictions and reduced visitation continued to impact our financial performance during the quarter, a robust recovery in travel and tourism spending across our markets is now underway," said Robert G. Goldstein, Las Vegas Sands chief executive officer. Las Vegas Sands earned an adjusted 19 cents per share in the quarter, compared with analysts' expectations for 20 cents per share, according to Refinitiv data. Reporting by Doyinsola Oladipo in New York; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Japan approves $13.5 bln Osaka resort, country's first casino
▼ + stars: | 2023-04-14 | by ( Kantaro Komiya | ) www.reuters.com time to read: +3 min

[1/2] The spinning wheel on a roulette table is seen at Japan Casino School in Tokyo, Japan August 4, 2018. U.S. casino operator MGM Resorts International (MGM.N) and local partner Orix Corp (8591.T) have spearheaded the Osaka IR project, with each owning a 40% stake in the company set up to manage the complex. The national government's decision came after the pro-casino Japan Innovation Party retained the prefectural governor and city mayor offices in Osaka on Sunday. Major casino operators Las Vegas Sands Corp (LVS.N), Caesars Entertainment Corp and Wynn Resorts Ltd (WYNN.O) withdrew from planned projects. The government on Friday said it would need more time to review the Nagasaki plan, led by Casinos Austria International.

Haley also tapped Betsy Ankney, a former political director for the National Republican Senatorial Committee, to run the PAC, according to Axios. Longtime Haley advisor Jon Lerner, will likely have leadership roles within a Haley presidential campaign, two of the people said. Haley has publicly hinted in two recent interviews with Fox News that she could be ready to run for president. Kevin Lemarque | ReutersTrump, who lost his reelection bid to Biden in 2020, is the only candidate so far to jump into the 2024 presidential race. She even said in 2021 that she wouldn't run for president in 2024 if Trump was on the ballot.

U.S.-listed shares of Chinese firms such as JD.Com Inc , Alibaba Group Holding Ltd and Pinduoduo Inc (PDD.O) climbed around 2% each in premarket trading. With a handful of trading sessions left this year, investors are hoping for a so-called "Santa rally" at the end of what has been a largely disappointing month for U.S. equities. Economic data so far has offered little hope that the Fed could hit the brakes on its interest rate hikes. ET, Dow e-minis were up 147 points, or 0.44%, S&P 500 e-minis were up 12.5 points, or 0.32%, and Nasdaq 100 e-minis were up 5 points, or 0.05%. Reporting by Amruta Khandekar and Ankika Biswas in Bengaluru; Editing by Vinay Dwivedi and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

"It's a knife edge between whether we're going to teeter into a recession or have a soft landing. said Brown who also noted that moves may be exaggerated as many investors take vacation around the end-of-year holidays. Declining issues outnumbered advancing ones on the NYSE by a 2.80-to-1 ratio; on Nasdaq, a 2.63-to-1 ratio favored decliners. The S&P 500 posted 5 new 52-week highs and 20 new lows; the Nasdaq Composite recorded 66 new highs and 456 new lows. On U.S. exchanges 11.07 billion shares changed hands, compared with the 11.59 billion average for the last 20 trading days.

[1/2] A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 14, 2022. "When people adjust their expectations after the Fed meeting, higher rates typically imply more compressed multiples for growth stocks." Further, hawkish messages delivered by three Fed officials including New York Fed President John Williams last week underscored the U.S. central bank's determination to do what it takes to ease price pressures. Still, money market participants are pricing in 61% chance of a 25 basis points rate hike in February to 4.5%-4.75%, with a terminal rate of 4.84% in May 2023. The S&P index recorded five new 52-week highs and 15 new lows, while the Nasdaq recorded 42 new highs and 335 new lows.

[1/2] A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 14, 2022. "When people adjust their expectations after the Fed meeting, higher rates typically imply more compressed multiples for growth stocks." Further, hawkish messages delivered by three Fed officials including New York Fed President John Williams last week underscored the U.S. central bank's determination to do what it takes to ease price pressures. Still, money market participants are pricing in 65% chance of a 25 basis points rate hike in February to 4.5%-4.75%, with a terminal rate of 4.84% in May 2023. The S&P index recorded five new 52-week highs and eight new lows, while the Nasdaq recorded two new highs and 59 new lows.

☆ Wall St set to open lower on China's anti-lockdown protests; Apple slips
▼ + stars: | 2022-11-28 | by ( Ankika Biswas | ) www.reuters.com time to read: +3 min

As China's strict zero-COVID policy aimed at stamping out COVID-19 with lockdowns and quarantines has become a lightning rod for frustrations, protests erupted over the weekend as a show of solidarity with rare displays of defiance. Although there were no signs of new protests in Beijing or Shanghai on Monday, the curbs so far have led to concerns over China's economic growth and its trickle-down effect on global companies. ET, Dow e-minis were down 216 points, or 0.63%, S&P 500 e-minis were down 33.75 points, or 0.84%, and Nasdaq 100 e-minis were down 99 points, or 0.84%. On Friday, the Nasdaq closed lower, weighed down by Apple in a subdued holiday-shortened trading session for Wall Street. Reporting by Ankika Biswas and Shreyashi Sanyal in Bengaluru; Editing by Savio D'Souza and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ American Casino Giants Win 10-Year Macau License Renewals
▼ + stars: | 2022-11-26 | by ( Elaine Yu | Katherine Sayre | ) www.wsj.com time to read: 1 min

HONG KONG—Six casino operators in Macau won provisional licenses to continue operating in the Chinese gambling hub for the next 10 years, the local government said, while rejecting a bid from an outsider to enter the market. The winning companies include affiliates of three American casino giants, Las Vegas Sands Corp., MGM Resorts International and Wynn Resorts Ltd. The licenses of three local rivals were also renewed. They are held by Galaxy Entertainment Group , SJM Holdings Ltd. and Melco Resorts & Entertainment Ltd.

☆ Six Macau Casino Operators Win New 10-Year Licenses
▼ + stars: | 2022-11-26 | by ( Elaine Yu | Katherine Sayre | ) www.wsj.com time to read: 1 min

Six casino operators in Macau won provisional licenses to continue operating in the Chinese gambling hub for the next 10 years, the local government said, while rejecting a bid from an outsider to enter the market. The winning companies include affiliates of three American casino giants, Las Vegas Sands Corp., MGM Resorts International and Wynn Resorts Ltd. The licenses of three local rivals were also renewed. They are held by Galaxy Entertainment Group , SJM Holdings Ltd. and Melco Resorts & Entertainment Ltd.

☆ Wall Street slips as concerns rise of stricter China COVID curbs
▼ + stars: | 2022-11-21 | by ( Carolina Mandl | ) www.reuters.com time to read: +4 min

U.S. casino operators with businesses in China including Wynn Resorts Ltd (WYNN.O), Las Vegas Sands Corp (LVS.N), MGM Resorts International (MGM.N) and Melco Resorts & Entertainment Ltd all fell at least 2%. [1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 21, 2022. Energy was the only major S&P 500 sector eying gains for the year, surging around 63%. Declining issues outnumbered advancing ones on the NYSE by a 1.27-to-1 ratio; on Nasdaq, a 1.60-to-1 ratio favored decliners. The S&P 500 posted 9 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 96 new highs and 220 new lows.

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 21, 2022. "That's a piece of what's driving the tech stocks down because we rely so much on China and Taiwan for critical components." Energy was the only major S&P 500 sector eying gains for the year, surging around 63%. Declining issues outnumbered advancing ones on the NYSE by a 1.26-to-1 ratio; on Nasdaq, a 1.57-to-1 ratio favored decliners. The S&P 500 posted 9 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 76 new highs and 194 new lows.

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