Stocks Open Higher On Budget Deal; Casinos Rise On Macau Data – Investor's Business Daily

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Stocks opened higher Monday after negotiations over the weekend on Capitol Hill resulted in a spending bill that will keep the government open through September.

The Dow Jones industrial average rose 0.1%, the S&P 500 0.2% and the Nasdaq 0.3%.

European markets were closed, along with most Asian markets for the international Labor Day holiday.

Casino operators with a big presence in China were indicated higher on news gaming revenue in Macau rose 16% in April. Wynn Resorts (WYNN) added 0.6% while Las Vegas Sands (LVS) added 0.2% at the open.

Dunkin’ Brands (DNKN) was another early gainer, up 2%, after RBC Capital Markets upgraded shares to outperform from sector perform and lifted its price target to 64 from 54, according to StreetInsider.com. Dunkin’ is working on a new base with a 58.53 buy point.

Dish Network (DISH) fell 2.5% after earnings topped expectations, but sales missed and subscriber losses were more than expected.

After soaring nearly 13% last week on a big earnings beat, shares of Twitter (TWTR) were strong again early Monday. The stock rose nearly 4% at the opening bell of the stock market today, on news it’s teaming up with Bloomberg to stream news.

Meanwhile, earnings from Insperity (NSP) topped expectations before the open. The company also raised its quarterly dividend by 20% to 30 cents a share.

Insperity shows four straight quarters of double-digit earnings and sales growth. Shares were volatile Friday after a recent low-volume breakout from a flat base with a 90.65 buy point. The stock slid 7% at the open.

U.S. crude oil for June delivery was trading around $48.94 a barrel, down nearly 1%. The 10-year Treasury yield was recently at 2.29%, up 1 basis point.

April ISM Manufacturing data will be out at 10 a.m. ET. The consensus estimate is for a reading of 56.5, down slightly from 57.2 in March.

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Casino Stocks Rise As Macau April Gaming Revenue Up 16%

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