Stock Market Winners & Losers: S&P 500 Awaits Final Fed Meeting of 2023 | Shohei Ohtani Gets $700M to Move 30 Miles

Winner: S&P 500 awaits final Fed meeting of 2023
• The S&P 500 was little changed on Monday as investors awaited the final Federal Reserve meeting of 2023 for any signals on when central bankers will begin to cut rates.
• The S&P 500 and Nasdaq are coming off their sixth straight weekly gain
• The November consumer price index is due out on Tuesday, while the producer price index is set for release on Wednesday.
• Macy’s shares rallied more than 16% on news the retailer has received a buyout offer for $5.8 billion.
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• 'Pinkmas' has shoppers dreaming of a pink Christmas. White Christmas is out. Pink Christmas is in.In the year of the blockbuster "Barbie" movie the hashtag #pinkChristmas has more than 478 million views on TikTok and has been tagged 244,000 times on Instagram.
• Netflix to Serve Up Live Tennis, Featuring Nadal and Alcaraz in an exhibition match called the “Netflix Slam” in Las Vegas on March 3. It’s the streaming company’s latest live sports event
• Taylor Swift turns 34 on Wednesday. Happy birthday to a pillar of the American economy.
Winner: Shohei Ohtani gets $700 million to move 30 miles
• Japanese MLB superstar and two-time MVP Shohei Ohtani will receive $700 million over the next 10 years from the Los Angeles Dodgers
• This is the largest contract in the history of North American sports, and across global sports.
• The contract’s value is nearly $275 million higher (64%) than baseball’s previous record contract and more than the 2023 Opening Day payroll of two teams.
• Is he worth it? Ohtani dazzles with his ability to pitch and hit at an elite level that has drawn comparisons to Babe Ruth.
• But off the field, his superstardom in his native Japan also makes the Dodgers’ investment even more compelling.
• Ohtani’s move to the Dodgers will have a ~$444 million economic impact next year.
• Japanese visitors coming to watch Ohtani in the US spent ~$8 million last year, while Japanese firms spent about the same amount to advertise at Angel Stadium.
• It’s a win for all teams. Revenue from international broadcast deals is split evenly between all 30 MLB owners.

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