Why Macao's Casino Stocks Jumped on Friday

01:29pm, Friday, 14'th Jan 2022
New licensing rules may not be as harmful as feared for casino operators.
Futures Slide After Disappointing JPMorgan Earnings, Tech Rout Worsens After trading flat for much of the overnight session, S&P futures slumped to session lows shortly after JPM reported earnings that disappointed the market (see our full write up here ) and were last trading down 30 points or 0.64%, with Dow futures down 0.3% and Nasdaq futures taking on even more water as the "sell tech" trade was back with a bang. Treasury yields rose 3bps to 1.74% and the dollar reversed an overnight loss. The VIX jumped above 20 and was last seen around 21. The Nasdaq 100 fell to the lowest in almost three months yesterday as tech came under pressure after Fed Governor Lael Brainard said officials could boost rates as early as March. It looks like the selling will continue today. Market sentiment has been shaken by concerns over the prospect of imminent Fed tightening along with record global Covid-19 infection rates, but we dont expect either of these factors to end the equity rally, said UBS Wealth Management CIO Mark Haefele in a note. The fourth-quarter U.S. earnings season, which started this week, could turn investor attention back to strong fundamentals. JPMorgan shares dropped in premarket trading after revenues and EPS beat thanks to a $1.8 billion reserve release while FICC trading revenue missed expectations even as its dealmakers posted their best quarter ever and Chief Executive Officer Jamie Dimon gave an upbeat assessment of prospects for growth.

VERB, STRR and KXIN among pre market gainers

01:12pm, Friday, 14'th Jan 2022 Seeking Alpha
Guardforce GFAI +17% to expand RaaS to China''s Greater Bay Area through two acquisitions.Melco Resorts & Entertainment MLCO +11% Las Vegas Sands, Wynn Resorts soar after Macau gaming
The Macau administration plans to allow for six casino licenses for operating periods of up to ten years that can also be extended for another three years. Read more.
The stock price of Las Vegas Sands Corp. (NYSE: LVS) increased by over 12% during intraday trading today. This is why it happened.
Casino stocks are rising on Friday following an update on regulations in Macau from the Chinese government concerning licenses. The post Casino Stocks: Why LVS, WYNN, MGM and MLCO Are Rolling Higher T
Tesla made some of its merchandise available for purchase with dogecoin; Major bank earnings are rolling in.
Las Vegas Sands and Wynn Resorts shares surged higher Friday after officials in Macau set out plans to limit the number of casinos in the world''s largest gaming hub.
Continuing erosion of LVS shares have more to do with lack of management moves than macro headwinds cited in BofA downgrade.
Tuesday afternoon''s top analyst upgrades and downgrades included Alcoa, American Tower, Las Vegas Sands, Paychex, US Steel and more.
A day after casino stock Las Vegas Sands Corp. (NYSE:LVS) was hit with a Wall Street downgrade, the stock bounced back on Tuesday when it was upgraded by another analyst. The Analyst: JPMorgan analyst
JPMorgan upgrades Las Vegas Sands Corp. (LVS) to an Overweight rating from Neutral with the risk-reward profile finally looking better on the casino stock. Read more.
A day after BofA Securities downgraded the stock, J.P. Morgan's Joseph Greff issued and upgrade and set a new price target at $48.
Ellen Lee, Causeway Capital portfolio manager, joins 'The Exchange' to discuss her take on the markets and where to invest.
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