Casino industry stocks have certainly rallied, but this may have had as much to do with the rebound in Macau as with Trump\u2019s history with the casino industry.<\/p>\n
After 26 straight quarters of falling revenues, casinos in Macau saw positive growth for the first time in August. Standard & Poor’s said recently that the company is optimistic that new casinos, such as Las Vegas Sand\u2019s Parisian Macau and the new Wynn Palace, will drive the gambling hub\u2019s recovery.<\/p>\n
Sure enough, shares in LVS gained $1.12, or 1.85 percent, while MGM Resorts International gained 54 cents, or 1.9 percent. And Wynn Resorts also gained $5.03, or 5.45 percent.<\/p>\n
The record-setting indexes, along with the climbing value of the dollar, has led to general enthusiasm towards the state of the US economy, but some analysts have also urged caution.<\/p>\n
\u201cIt is becoming clear that market participants have digested the Trump reality with most waiting for further news relating to Trump\u2019s economic team, which could provide additional clarity on how he plans to lead the US economy,\u201d said Lukman Otunuga, FXTM research analyst, in a note.<\/p><\/blockquote>\n
Meanwhile, Maris Ogg, president at Tower Bridge Advisors, said that we might be reading too much into the President-elect\u2019s future economic policies.<\/p>\n
\u201cStocks have rallied since the election on a lot of talk and no action so far, but it\u2019s a classic jump to conclusions. That, when coupled with high valuations, usually doesn\u2019t end well,\u201d Ogg cautioned.<\/p>\n
Of course, based on prediction accuracy across the globe this year, you might want to take his concerns under advisement.<\/p>\n","protected":false},"excerpt":{"rendered":"
The US stock market closed at an all-time high on Monday night, with bullish investors buoyed by the idea that a Donald Trump presidency will be good for big business. The Dow Jones industrial average, Standard & Poor\u2019s 500, and NASDAQ all set records, the first time in 17 years that all three have reached […]<\/p>\n","protected":false},"author":42,"featured_media":42170,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,61],"tags":[],"acf":[],"yoast_head":"\n
Casino Industry Rallies as US Stock Market Hits All-Time High<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n