Wall Street ended mostly higher Friday after a wobbly day of trading. Trading was subdued ahead of the Memorial Day holiday in the U.S.
Despite the uneven finish, major indexes each notched a weekly gain of more than 3%. Strength in technology, communications and real estate stocks helped reverse much of the market’s early slide. Energy stocks fell the most as crude oil prices closed lower after six straight gains.
Small-company stocks did more than twice as well as the rest of the market this week, a bullish signal suggesting that investors expect the economy is on the path to recovery.
The S&P 500 rose 6.94 points, or 0.2%, to 2,955.45.
The Dow Jones Industrial Average slipped 8.96 points, or less than 0.1%, to 24,465.16.
The Nasdaq composite added 39.71 points, or 0.4%, to 9,324.59.
The Russell 2000 index of small company stocks gained 7.97 points, or 0.6%, to 1,355.53.
For the week:
The S&P 500 rose 91.75 points, or 3.2%.
The Dow gained 779.74 points, or 3.3%.
The Nasdaq climbed 310.03 points, or 3.4%
The Russell 2000 picked up 98.54 points, or 7.8%.
For the year:
The S&P 500 is down 275.33 points, or 8.5%.
The Dow is down 4,073.28 points, or 14.3%.
The Nasdaq is up 351.98 points, or 3.9%
The Russell 2000 is down 312.94 points, or 18.8%.
6 Gambling Stocks Ready For a Rebound
If you didn’t believe that gambling stocks are a worthwhile investment, consider this. The Business Research Company projects the global gambling market to reach $565.4 billion through 2022. That assumes that the industry will continue growing at is annual rate of 5.9%.
The gambling industry is composed of many segments. There are casinos, lotteries, and the now legalized segment of sports betting. But gambling is also broken down into offline gambling, online gambling and even virtual reality gambling. In fact, virtual reality gambling is projected to grow at an annual rate of 21.5% until 2022.
But virtual reality is only one of a number of emerging technologies that are changing the “traditional” face of the gambling industry. There are now hybrid games – the combination of online and land-based games and even augmented reality games.
And don’t forget about fantasy sports. Fantasy sports has created an entire industry and it wasn’t created for one person to have bragging rights over their buddies. Fantasy sports is a multi-million industry.
But like many other segments of the economy, gambling stocks were hit hard by the Covid-19 pandemic. Not only were casinos closed, but live sports were also put on hold. This dried up many of the traditional avenues of gambling, and gambling stocks sank lower as a result.
However, the global economy is starting to re-open. And while it was thought that casinos would be one of the last to come back, there are casinos that are starting to re-open. And, it’s becoming more and more likely that there will be live sports (likely without fans initially) sooner rather than later. And that will open up the fantasy sports market.
These stocks tend to move quickly. So now is the time to take action. That’s why we’ve created this special presentation that highlights 6 gambling stocks that are ready for a rebound. The sell-off was real, but so will the comeback. And when it does, these stocks may cost much more than they do now.
View the “6 Gambling Stocks Ready For a Rebound”.
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