Big banks could be on the verge of delivering tens or even hundreds of billions of dollars to investors following results from the Fed's stress tests today. In March, the central bank said it will end the temporary restrictions on returning capital after June 30, assuming the institutions pass the CCAR round of tests. Plans for stock buybacks or dividends are likely to be announced on Monday after the banks tinker with their proposals following the regulatory results.
Resorts World Las Vegas unlocks its doors today in what will be the biggest casino property opening on the Strip in more than a decade. The $4.3B Resorts World Las Vegas property, the most expensive property ever developed in Sin City, features 3.5K hotel rooms. It also has a large theater where Celine Dion and Katy Perry will be in residency later this year, while the timing of the opening is advantageous given the huge traffic expected on the Strip during the 4th of July weekend.
Initial claims for unemployment insurance remained elevated last week as employers struggled to fill a record amount of job openings. First-time filings totaled 411,000 for the week ended June 19, a slight decrease from the previous total of 418,000, the Labor Department reported