Wynn Resorts is a leading global developer and operator of luxury hotels and casinos, renowned for its high-end hospitality offerings and extravagant entertainment experiences. The company manages iconic resorts that feature world-class amenities, fine dining restaurants, vibrant nightlife, and extensive gaming facilities. With a focus on delivering exceptional customer service and innovative entertainment options, Wynn Resorts creates unique environments that cater to both leisure and business travelers, while also contributing to the tourism and hospitality industry in the destinations where it operates. Read More
Stability is great, but low-volatility stocks may struggle to deliver market-beating returns over time as they sometimes underperform during bull markets.
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The performance of consumer discretionary businesses is closely linked to economic cycles. Thankfully for the industry, demand trends seem to be healthy as discretionary stocks have gained 10.3% over the past six months.
This performance has nearly mirrored the S&P 500.
Shares of luxury hotels and casino operator Wynn Resorts (NASDAQ:WYNN)
jumped 3.7% in the afternoon session after its Wynn Macau subsidiary was upgraded by analysts at UBS, citing an improved outlook for Macau's gaming revenue.
Stay informed about the performance of the S&P500 index one hour before the close of the markets on Wednesday. Uncover the top gainers and losers in today's session for valuable insights.
Let's have a look at what is happening on the US markets in the middle of the day on Wednesday. Below you can find the top S&P500 gainers and losers in today's session.
Nvidia Corp. (NASDAQ:NVDA) is up 2% in midday trading Monday, moving within striking distance of its all-time high—now less than 2 percentage points away—as investors remain upbeat ahead of the company's highly anticipated
Stay updated with the movements of the S&P500 index in the middle of the day on Monday. Discover which stocks are leading as top gainers and losers in today's session.
A number of stocks jumped in the afternoon session after the major indices rebounded, as Fed Chair Jerome Powell delivered dovish remarks at the much-awaited Jackson Hole symposium. Powell suggested that with inflation risks moderating and unemployment remaining low, the Federal Reserve might consider a shift in its monetary policy stance, including potential interest rate cuts. This outlook eased market concerns about prolonged high interest rates and their impact on economic growth. The prospect of lower borrowing costs bolstered investor confidence, particularly in sectors that have lagged, leading to a broad rally across the market.
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Earnings results often indicate what direction a company will take in the months ahead. With Q2 behind us, let’s have a look at Red Rock Resorts (NASDAQ:RRR) and its peers.
Wynn Resorts' second quarter results showed flat revenue growth and missed Wall Street expectations for both sales and non-GAAP profit. Management attributed this performance to mixed results across its major properties. Las Vegas operations benefited from increased casino demand among high-end customers and operational adjustments focused on premium rate retention. In Macau, lower-than-expected VIP hold weighed on results despite solid mass market volume growth and continued progress on property refresh projects. CEO Craig Billings highlighted, “We’ve been able to hold rate, which is a good indicator of demand for what we offer.”
A number of stocks jumped in the afternoon session after the latest Consumer Price Index (CPI) report showed inflation holding steady, bolstering investor optimism for a potential interest rate cut by the Federal Reserve. The data, which revealed that inflation remained at 2.7% for the year ending in July, was seen as a positive sign by investors. This stability increases the likelihood that the Federal Reserve might lower interest rates at its upcoming September meeting. Lower interest rates can stimulate the economy by making borrowing cheaper for both consumers and businesses, which often translates into higher consumer spending. This is particularly beneficial for the Consumer Discretionary sector, which includes companies selling non-essential goods and services like apparel, travel, and electronics.
