Live Nation, Sphere Entertainment Co. and CTS Eventim were the top three music stocks this week amidst news that consumers continue to spend despite nagging inflation and a resumption of U.S. student loan payments for millions of borrowers. Live Nation shares rose 6% to $88.00, narrowly beating Sphere Entertainment’s 5.9% gain to $39.35. German promoter and ticketing company CTS Eventim jumped 4.7% to 56.40 euros .than in the prior-year period, according to the National Retail Federation.
Music outperformed many indexes as stocks had a mixed week. In the United States, the S&P 500 improved 0.8% and the tech-heavy Nasdaq composite improved 1.8%. In the United Kingdom, the FTSE 100 fell 1.5%. South Korea’s KOSPI composite index fell 2.3%.
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