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Music Stocks Hit New High as Sphere Entertainment, Tencent Music Soar
Music stocks hit a new high as companies including Sphere Entertainment and Tencent Music soared in the wake of their latest earnings reports.
The index has overcome two downturns — one caused by an escalation of trade tensions, the other prompted by President Trump’s announcement of his tariff policy — to surpass the previous record of 2,755.53 set on Feb. 14. As for tourism to Las Vegas, CEO James Dolan brushed aside concerns and said demand for Sphere concerts is strong enough to withstand a downturn should one arise. Live Nation improved 8.2% to $147.68 this week despite news that the company and AEG Presents are facing a criminal antitrust probe by the U.S. Department of Justice over pandemic-era refund policies.
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