Live music stocks followed the overall U.S. markets downward last week. On Monday morning, overall U.S. market futures fell as much as another 400 points.
This past week, U.S. equity markets rebounded sharply from recent volatility, driven by easing trade tensions and positive earnings reports. But, live music and entertainment stocks underperformed relative to the broader market.
UPDATE: Monday was a volatile day for the stock market as investors continue to react to concerns surrounding potential tariff escalations. Here’s a look at how key live music stocks fared vs. the overall market as well as during the pre-market Tuesday.
On Friday publicly traded major live music stocks continued their downward spiral along with the overall markets. In the past, music has been somewhat recession proof and market observers thought that trend might continue since live music is not directly affected by tariffs.
Live music stocks from Live Nation, Sphere Entertainment. and MSG Entertainment followed the markets downward Monday continuing their week long spiral.
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