Macau Shuts Casinos And Other Businesses To Contain COVID Outbreak

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.

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.

HONG KONG, July 11 (Reuters) - Macau shut all its casinos for the first time in more than two years on Monday as authorities struggle to contain the worst coronavirus outbreak yet in the world's biggest gambling hub.

HONG KONG, July 6 (Reuters) - Macau has locked down one of the city's most famous hotels, the Grand Lisboa, after more than a dozen COVID-19 cases were found there on Tuesday, with infections spreading rapidly in the world's biggest gambling hub.

"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.

The authorities have placed more than 13,000 people under quarantine orders as the city battles to contain its biggest outbreak since the pandemic began. Macau has recorded more than 900 coronavirus infections since mid-June, prior to that it had largely been COVID-free since an outbreak in October 2021.

HONG KONG, July 9 (Reuters) - Macau will shut almost all commercial and industrial businesses including its casinos for one week from Monday, as authorities race to curb a surge of COVID-19 infections in the world's biggest gambling hub.

casino operators Las Vegas Sands, Wynn Resorts and Melco Resorts fell between 4.6% and 5.7% after Macau shut all its casinos for the first time in more than two years in a bid to contain the spread of COVID-19. (Reporting by Amruta Khandekar in Bengaluru; Editing by Shounak Dasgupta)

For the Sept. 11 event, the Trumps will offer commentary on all four of the evening's fights. But they're not the only soundtrack available. Viewers can pick between the Trumps narrating the fight, or regular commentators Jim Lampley and Shawn Porter.

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.

While the government has stopped short of imposing a full scale lockdown in the former Portuguese colony, seen in Chinese cities such as Shanghai, most facilities are shut and restaurants can only provide takeaway.

July 11 (Reuters) - U.S. stock index futures fell on Monday, bracing for the start of the earnings season which could see profits come under pressure at a time of growing fears of an economic downturn due to aggressive interest rate hikes.

Aging boxer Evander Holyfield and former UFC champion Vitor Belfort are fighting today. If that wasn't strange enough, former President Donald Trump is on commentary duties. This could be the weirdest combat sport event of 2021, and in a year where YouTubers Logan Paul and Jake Paul have taken over boxing, that's saying something.

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.

Only Macau's casinos have been allowed to stay open in a move to ensure job security. The government relies on the industry for more than 80% of its tax revenue with most of the population employed directly or indirectly by the casino resorts.

"I have contracted Covid and am not going to be able to fight next weekend," De La Hoya tweeted. "Preparing for this comeback has been everything to me over the last months, & I want to thank everyone for their tremendous support."

The report, which signaled a still strong labor market helped alleviate some fears about an immediate recession, but added to worries about more aggressive monetary policy tightening by the Fed to stamp out soaring inflation.

Wanted you to hear directly from me that despite being fully vaccinated, I have contracted Covid and am not going to be able to fight next weekend. Preparing for this comeback has been everything to me over the last months, & I want to thank everyone for their tremendous support. pic.twitter.com/0wKEnr5Jzv

The government has been hesitant to close casinos due to its mandate to protect jobs.
The industry employs most of the population directly and indirectly and accounts for more than 80% of government revenues.

How to watch Evander Holyfield vs. Vitor Belfort To watch the fight night on pay-per-view, go to Fite TV to purchase the $49.99 package, which includes unlimited replays until Dec. 11, 2021. Or order it through your existing cable, satellite or telecommunications provider.

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