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Spotify and Live Nation Fuel Music Stocks Comeback in Wild Week
Spotify and Live Nation fueled a comeback for music stocks in a wild week for markets after the U.S. Treasury placed a 90-day pause on most tariffs.
Led by Spotify and Live Nation, music stocks surged on Wednesday (April 9) after the U.S. Treasury placed a 90-day pause on most tariffs and recaptured some of the losses from the chaotic previous week. That welcome news recaptured only a fraction of the previous week’s losses, however, and music stocks were hurt by a weakened U.S. dollar and growing fears the U.S. could slip into a recession. Tencent Music Entertainment fell 5.5% to $12.24 but was likely helped by Nomura initiating coverage this week with a buy rating and a $17.20 price target.
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