US STOCKS-S P 500 Dips Ahead Of CPI Earnings
Later in the week a raft of economic data - including consumer prices, retail sales and factory output - should provide a glimpse of the extent to which inflation has peaked and the economy has cooled down as the Federal Reserve moves closer to next week's policy meeting, which is expected to culminate in the second straight 75 basis point interest rate hike.
NEW YORK, July 11 (Reuters) - The S&P 500 fell on Monday as dearth of catalysts left market participants warily embarking on a week back-end loaded with crucial economic data and the unofficial kick-off of second-quarter earnings season.
Risk-off sentiment, further stoked by Macao's first casino shutdown in over two years to curb the spread of COVID-19, also sent the Nasdaq into negative territory, with market leading tech- and tech-adjacent megacap stocks weighing heaviest.
This week marks 30 years since Victoria introduced the first pokie machines at a pub in Melbourne's eastern outskirts, which then premier Joan Kirner described would result in 'better social, If you beloved this write-up and you would like to get extra facts about Casino Online kindly pay a visit to the web page. recreational facilities and a better night out.'
The measures come as the government has stopped short of imposing a full lockdown, seen in Chinese cities such as Shanghai.
However the city is effectively closed with most facilities shut and restaurants only providing takeaway.
"There´s nervousness about earnings season and the CPI report, but I think the market has a sense as to what CPI is going to bring this week," said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut.
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The 44-hectare (108-acre) Okada Manila started operations late in 2016. With 993 suites and villas, 500 table games and 3,000 electronic gaming machines, it is the biggest of four multi-billion dollar casino-resorts operating in the capital of the Philippines, which has one of Asia's most freewheeling gaming industries.
'Back then Victoria started with 10,000 machines, today there are almost 30,000 poker machines and despite mandatory closing laws operators have found loopholes to provide gambling access 24 hours a day - and in some of Victoria's most vulnerable communities.'
Only Macau's casinos have been allowed to stay open in a move to protect jobs, the government said. Macau gets more than 80% of its tax revenues from the industry with most of the population employed directly or indirectly by the casino resorts.
The market currently expects that the central bank will raise the Fed funds futures rate by 75 basis points in its latest salvo against red-hot inflation, a tactic which some fear could tip an already cooling economy into recession.
Filipino associates of Japanese tycoon Kazuo Okada seized the $3.3 billion casino, which is held by Tiger Resort, Leisure & Entertainment, ousting its previous management with the help of private security guards and local police.
Alliance for Gambling Reform coordinator Anna Bardsley has led calls for a reduction in venue trading hours, spin rates and maximum bets after a shocking new report revealed Victorians alone had lost an estimated $66 billion to pokies in the last 30 years.
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Its BetMGM joint venture has also forged tie-ups with Carnival Corporation to offer cruise ship gaming, and with Sony Pictures Television and slot machine producer IGT to launch a digital casino based on the television programme Wheel of Fortune.
"With the economy and borders opening up, Okada Manila is expected to sustain the momentum," current management said in the statement as it held its first news conference since it took physical control of the casino on May 31.
Foot traffic in June climbed 8% from a month earlier and was around 74% of its pre-pandemic level, it said in a statement, also saying that the casino planned to open more shops and add entertainment attractions.
The territory had largely been COVID-free since an outbreak in October 2021. A shopping mall inside the Four Seasons hotel owned by Las Vegas Sands Macau unit Sands China was also requested to shut this week after several cases were found.
HONG KONG, July 7 (Reuters) - Macau shut down a popular shopping mall adjacent to MGM China's casino resort on the city's main peninsula after several COVID-19 infections were found, as authorities raced to the biggest outbreak yet in the world's biggest gambling hub.
