Shares of retailers and other consumer companies declined amid inflation concerns.
Las Vegas Sands agreed to sell its Las Vegas properties to Apollo Global Management and a real-estate investment trust for about $6.25 billion as the casino operator exits the gambling hub to focus on its core Asia operations.
Centrist Senate Democrats were expected to secure a modest change to the $1.9 trillion relief package Wednesday, tightening eligibility for some of the direct payments that will be sent out to many Americans, according to people familiar with the change.
Hopes for a recovery this year depend on how many tourists and business travelers will return following the distribution of vaccines.
Shares of craft-store chain Michaels Cos rose after it agreed to a leveraged buyout by investment firm Apollo Global Management at $3.3 billion.
The recent increase in mortgage rates may not be as much of a deterrence to home buyers as feared, according to one money manager.
"The fact that potential homebuyers are starting at a 30-year fixed mortgage rate of approximately 3.25% provides significantly more cushion to absorb a reasonable level of incrementally higher mortgage rates than if the current base rate was closer to the 20-year average of 4.9%," said strategists at money manager UBS Global Wealth Management.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-03-21 1715ET
