5 Things To Know In Investing This Week: The Government And Consumer Big Spending Issue
Portfolio Pulse from Gary Brode
The article discusses the robust spending by consumers and the government, highlighting the increase in holiday sales and the upward revision of the 3Q GDP growth from 4.9% to 5.2%. It questions the accuracy of government statistics and suggests that government overspending is inflating GDP figures. The article also notes the decline in the Personal Consumption Expenditures Index, hinting at a potential end to inflation. Additionally, it covers Miriam Adelson's sale of $2B of Las Vegas Sands stock to purchase a stake in the Dallas Mavericks, which temporarily impacted LVS stock.
December 06, 2023 | 8:15 pm
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POSITIVE IMPACT
Miriam Adelson sold $2B of Las Vegas Sands stock to buy a stake in the Dallas Mavericks, causing a temporary decline in LVS stock. However, the reduction of her stock overhang is seen as positive for the company, and with Sands' recovery to pre-pandemic levels and Macau's gaming revenue up significantly, the fundamentals for LVS are strong.
The sale of a large amount of LVS stock by Miriam Adelson may have caused a temporary dip in the stock price due to market reaction to the news. However, the company's strong recovery and positive fundamentals, along with the buyback of $250MM of stock by Sands, suggest that any negative impact on the stock price is likely to be short-lived and may present a buying opportunity for investors.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90