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Week Ahead: NIFTY Stays Significantly Deviated From It’s Mean; Stay Vigilant At Higher Levels

It was the sixth week in a row that saw the Nifty 50 index ending with gains. Over the past days, the markets largely experienced trending days as they continued inching higher despite the intraday moves staying ranged. The Nifty also continued forming its new lifetime highs; the current week has seen the index closing at a fresh lifetime high once again. Over the past five sessions, the Nifty oscillated in a 450-point range. Volatility also modestly expanded; India Vix rose by 8.11% to 13.73 over the previous week. The benchmark Index also closed with a net gain of 178.30 points on a weekly note.

The coming week is truncated, with Wednesday being a trading holiday because of Moharram. The markets are in a firm uptrend; the options data suggests the potential resistance points shifting higher towards 24700-24800 levels. The level of 24500 will also be a crucial level to watch and Nifty’s behavior vis-à-vis that level will dictate the index’s behavior over the immediate short term. While there is no dispute about a strong uptrend, the markets stay significantly deviated from their mean; this makes it necessary to lay an equal emphasis on guarding profits at higher levels and effectively rotating the stocks to stay invested in the ones with strong relative strength and promising technical setups.

Monday is likely to see a positive start to the day. The levels of 24650 and 24800 are likely to act as likely resistance levels for the Nifty. The supports come in lower at 24280 and 21050 levels.

The weekly RSI is 75.86; it remains in the overbought territory. It stays neutral and does not show any divergence against the price. The weekly MACD is bullish and it stays above its signal line.

The pattern analysis of the weekly chart shows that the Nifty is significantly deviated from its mean. The nearest and fastest 20-week MA is 1680 points below the current close; the 50-week MA is 3119 points below the current close. The 20-week MA and the 50-week MA are placed at 22822 and 21383 respectively. The nearest pattern support exists at 24000 levels. Therefore, in the event of any retracement, the 24000 level provides key support; if that gets violated in the future, we will then find the markets reverting to their mean.

Overall, the markets continue to stay in a firm uptrend; there are no signs whatsoever as of now that would suggest that we may see strong selling pressure. However, we can also not overlook the fact that the markets remain overextended from a technical standpoint and some ranged retracement cannot be ruled out, and it looks quite imminent. Given the present technical structure, it is of paramount importance that we vigilantly guard profits at higher levels. While keeping the leveraged exposures at modest levels, all new buying should be kept limited to the stocks seeing improved relative strength and promising technical setups. A cautious outlook is advised for the coming week.

Sector Analysis for the coming week

In our look at Relative Rotation Graphs®, we compared various sectors against CNX500 (NIFTY 500 Index), which represents over 95% of the free float market cap of all the stocks listed.

Relative Rotation Graphs (RRG) show a bit of an uncomfortable setup where there are hardly any sectors in the leading quadrant. The Nifty Midcap 50 and Nifty Realty Indices are the only two groups that are inside the leading quadrant; the Realty sector index is on the verge of rolling over into the lagging quadrant.

The Nifty Auto and Consumption Indices have rolled inside the weakening quadrant. Besides this, Infrastructure, Metal, PSE, PSUBank, and Commodities Indices are inside the weakening quadrant. These groups may continue slowing down on their relative performance against the broader markets.

The Nifty Energy Index has rolled into the weakening quadrant. The Nifty Pharma index also stays inside the weakening quadrant.

The IT index has rolled inside the improving quadrant and this marks a phase of the sector’s relative outperformance against the broader markets. Besides this, the Media, FMCG, Banknifty, Services Sector, and Financial Services Indices are inside the improving quadrant.

Important Note: RRG™ charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell signals.  

Milan Vaishnav, CMT, MSTA

Consulting Technical Analyst

www.EquityResearch.asia | www.ChartWizard.ae

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Redbox set to close as DVD market withers in streaming’s shadow

DVD rental service Redbox is set to shut down after 22 years in business, as streaming continues to dominate the at-home entertainment market.

Redbox’s parent company, Chicken Soup for the Soul Entertainment, changed its Chapter 11 bankruptcy case, filed last month, to a Chapter 7 liquidation case on Wednesday. The conversion signifies that the company couldn’t come up with a repayment plan for its outstanding debts and will soon turn to selling off assets to pay back creditors.

With the change to a Chapter 7 case, all employees will now be laid off and Redbox’s 24,000 kiosks will close. Lawyers for Chicken Soup for the Soul told the court they had worked “day and night” to find a solution to avoid the outcome, Deadline reported.

A current Redbox employee, who asked not to be identified due to uncertainty over future legal actions he said some at the company are considering, said the news has been destabilizing.

“Sentiment’s in the gutter,” he said. “We have coworkers who’ve missed rent, facing eviction.”

The employee said staffers were told during a town hall meeting Thursday that they wouldn’t be receiving pay for the hours they’ve worked so far this month. Additionally, he said layoffs wouldn’t be made official until a bankruptcy trustee is appointed, raising concerns about when employees can file for unemployment insurance.

A Delaware judge overseeing the case indicated Wednesday that “there is no means to continue to pay employees,” the Hollywood Reporter reported Thursday.

A lawyer for Redbox and a representative for the company didn’t immediately respond to requests for comment.

Founded in 2002, Redbox at its peak shook up Hollywood with its rental service, which at the time was cheaper than buying a DVD. But with the rise of digital offerings and streaming platforms, DVD sales collapsed during the 2010s.

In 2022, Redbox had $325 million in debt, and Chicken Soup for the Soul Entertainment acquired it.

The parent company had accumulated $1 billion in debt by the time of its bankruptcy filing last month. According to court documents filed earlier this month, it was struggling to make payroll and pay for health care plans for its more than 1,000 employees.

Redbox is just the latest physical media company that has struggled to survive streaming’s dominance. Some 99% of U.S. households pay for at least one service, a Forbes survey found this year; others rely on free ad-supported streaming platforms. This year, Best Buy stopped selling physical media like DVDs and Blu-rays, attributing it to the shift in consumption of entertainment.

Streaming, meanwhile, reached a record-high share of TV viewership in May, a recent Nielsen report found.

This post appeared first on NBC NEWS
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Delta says the Olympics will cost it $100 million as travelers skip Paris

For more than 10,000 Olympic athletes, making it to Paris this summer is a dream come true. Thousands of potential tourists feel otherwise.

Delta Air Lines says travelers are avoiding the city this summer and booking to destinations elsewhere, amounting to a $100 million hit for the airline during an otherwise bustling summer for European travel, CEO Ed Bastian said.

Delta’s third-quarter profit and revenue forecast fell short of Wall Street expectations after airlines flooded the market with added flights. The airline reiterated its full-year outlook Thursday.

“Unless you’re going to the Olympics, people aren’t going to Paris…very few are,” Bastian told CNBC. “Business travel, you know, other type of tourism is potentially going elsewhere.”

Delta has the most service of any U.S. airline to Paris and has a joint venture with Air France. Together the two carriers have approximately 70% market share in nonstop service between the U.S. and France, according to consulting firm ICF.

On July 1, Air France-KLM, the parent of Air France, forecast a revenue hit of as much as 180 million euros $195.5 million) in June through August because of the Olympic Games.

“International markets show a significant avoidance of Paris,” the company said. “Travel between the city and other destinations is also below the usual June-August average as residents in France seem to be postponing their holidays until after the Olympic Games or considering alternative travel plans.”

Bastian said Paris demand after the Olympics, which run July 26 through August 11, will likely be strong. “During the period itself there’s a little bit of a hesitation,” he said. Air France-KLM had a similar projection.

One clear deterrent for mid-summer travel to Paris: Prices for hotel rooms are set to skyrocket.

Hotel-data firm STR said revenue per available room for upscale hotels in Paris will soar as much as 45% in July and August from last year. Meanwhile, it forecast a 3% to 5% increase in the metric in London and 2% to 4% increase in Rome for the same months over 2023.

Many travelers were already shifting their European vacations beyond the traditional summer travel season, Delta’s president, Glen Hauenstein, said on an earnings call on Thursday. That gives airlines a chance to earn more revenue outside of traditional peak seasons.

“We see the season extending as a whole group of people, whether or not it’s retirees, whether or not it’s people with double incomes and without children, who don’t have the school concerns,” he said. “It’s actually a better time to go to Europe in September and October than it is potentially in July and August when the weather is so hot and everything is so packed.”

He also said Delta is seeing a boom in travel to Japan, thanks in large part to a favorable exchange rate for U.S. tourists.

“When the yen was 83 [per U.S. dollar], it was very difficult to be able to afford to go see Japan and all the great things that Japan has to offer. With the yen at 160, it’s a very different world for U.S. travelers and they seem to be taking great advantage of that,” he said.

Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2032.

This post appeared first on NBC NEWS
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NBA Summer League highlights: No. 3 overall pick shines vs. Lakers

While Bronny James’ early exploits have largely stolen the summer show, the top three picks in the draft were all in action as games began in Vegas Friday night.

First up was No. 3 overall pick Reed Sheppard. He shined for the Houston Rockets against the Los Angeles Lakers, finishing with 23 points on 9-for-17 shooting, including a 4-for-6 mark on 3-pointers.

Top pick Zaccharie Risacher and No. 2 pick Alex Sarr squared off against each other later Friday in the Atlanta Hawks-Washington Wizards game.

Reed Sheppard highlights vs. Lakers

In addition to his 23 points, Sheppard dished out five assists, pulled down four rebounds and recorded three blocks and a steal in the Rockets’ 99-80 win.

Zaccharie Risacher, Alex Sarr highlights

Risacher, the No. 1 pick, had a team-high 18 points on 7-for-16 shooting (3-for-9 from 3). He added five rebounds and two assists with a block.

Sarr scored 12 points on 4-for-12 shooting (the big man did hit two of his five 3-pointers) while pulling down seven rebounds and dishing out four assists. He also had four blocks and a steal in the Wizards’ 94-88 victory.

This post appeared first on USA TODAY
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Lakers vs. Rockets: Bronny James has eight points in summer league loss

The 2024 NBA Summer League started Friday in Las Vegas, where Bronny James and the Los Angeles Lakers were searching for their first win of the summer.

However, that will have to wait at least one more game, as the Houston Rockets handed the Lakers a 99-80 loss at the Thomas & Mack Center in Las Vegas. Despite the loss, James played arguably his best statistical game of the summer, finishing with a summer league-high eight points on 3-of-14 shooting on the night.

With the loss, the Lakers have now lost four consecutive games of the summer after dropping all three games at the California Classic Summer League last week.

Despite nearly giving up triple-digit points, it wasn’t all bad Friday for the Lakers, as first-round pick Dalton Knecht finished with 20 or more points for the second consecutive game. The former Tennessee Volunteer guard finished with a game-high 25 points on 9-of-18 shooting, 15 of which came from 3-point range.

Elsewhere, Reed Sheppard — the No. 3 overall pick of the 2024 NBA draft — and 2023 first-round pick Cam Whitmore (MVP of the 2023 NBA Summer League), finished with a combined 43 points for the Rockets on 17-of-34 shooting.

With that, check out the recap of updates and highlights from the Lakers’ 99-80 loss to the Rockets in the NBA Summer League on Friday:

Lakers vs Rockets summer league box score: Rockets 99, Lakers 80

Lakers vs. Rockets summer league updates, highlights

All times Eastern

Q4: Rockets 99, Lakers 80

9:24 p.m.: The Lakers fall to the Rockets 99-80. Dalton Knecht led the Lakers with a game-high 25 points. Bronny James finishes with a summer league-high eight points and five rebounds. Reed Sheppard led the Rockets with 23 points.

9:22 p.m.: Dalton Knecht continues with the hot hand as he hits another triple from the top of the key. Lakers down 18 vs. the Rockets at 97-80.

9:21 p.m.: Dalton Knecht hits a 3 coming out of the Lakers timeout. The deficit is now at 20 for Los Angeles at 97-77. It is the fourth triple of the night for Knecht, who has 22 points.

9:20 p.m.: Lakers call a timeout on the floor with 2:19 to go after Shahada Wells pushes the Rockets lead to 97-74.

9:19 p.m.: SEC-on-SEC action as Reed Sheppard blocks Dalton Knecht’s shot.

9:18 p.m.: Cam Whitmore with a full-court pass to Reed Sheppard, who finishes the pass with an easy dunk. Houston now leads 93-74 with 3:47 to go.

9:16 p.m.: Dalton Knecht hits a 3-pointer to bring the Lakers deficit against the Rockets to 91-74. He leads the Lakers now with 19 points.

9:12 p.m.: Cam Whitmore hits a corner 3. Rockets up 89-67 in the fourth quarter.

9:10 p.m.: Bronny James hit a 6-foot driving floater out of the Lakers timeout. He has eight points on the night.

9:08 p.m.: Bronny James’ 3 falls short. He is now 2 of 10 from the floor on the night. Timeout on the floor.

9:07 p.m.: Lakers turn over the ball and it leads to a dunk from N’Faly Dante. Rockets lead Lakers 84-63.

9:05 p.m.: Bronny James misses a 3-pointer. Offensive struggles continue for James, who is 2 of 9 from the field on the night.

Q3: Rockets 80, Lakers 61

9:03 p.m.: Rockets take a 19-point lead into the fourth quarter at 80-61. Reed Sheppard has 19 points for the Rockets. Bronny James is still at six for the Lakers.

8:58 p.m.: It’s been all Rockets here in the third quarter as Cam Whitmore slams one home for the second time tonight. The former Villanova Wildcat has 14 points on the night.

8:57 p.m.: Orlando Robinson with a wide-open dunk to extend Houston’s lead to 75-56.

8:55 p.m.: Timeout on the floor as the Rockets lead the Lakers 72-56. 2:47 to go in the third quarter.

8:53 p.m.: Maxwell Lewis gets called for the travel. Lakers have struggled to establish a consistent offense in the third quarter as the Rockets lead 72-56. Houston is outscoring Los Angeles 18-11 in the third quarter thus far.

8:51 p.m: Dalton Knecht gives the Lakers a much-needed basket as he gets out off the glass to roll in. Lakers now trail the Rockets 70-54 with under four minutes to go in the third quarter.

8:50 p.m.: Reed Sheppard extends the Rockets lead to 68-52 with a logo 3-pointer. Steph Curry range 3 for the rookie out of Kentucky.

8:47 p.m.: Timeout on the floor. Rockets lead the Lakers 65-52.

8:46 p.m.: Bronny James’ struggles continue on the floor as he misses the 3.

8:45 p.m.: Cam Whitmore with a flying dunk off the assist from Reed Sheppard. Rockets lead 63-50.

8:42 p.m.: Bronny James can’t finish the alley-oop from Maxwell Lewis. Tough miss for James and the Lakers.

8:42 p.m.: Bronny James turned over the ball as he started driving to the basket. It leads to a floater from Nate Williams which puts the Rockets up 56-45.

8:41 p.m.: Bronny James is out there to start the second half for the Lakers. He already has a summer league-high six points on the night.

8:38 p.m.: Lakers shot 40.5% from the field in the first while compared to the Rockets’ 44.2%. Both teams combined for 13 turnovers in the first 20 minutes of action.

Q2: Rockets 54, Lakers 45

8:31 p.m.: Lakers trail the Rockets 54-45 at halftime after Maxwell Lewis’ shot at the buzzer is deemed no good. Dalton Knecht leads the Lakers with 10 points while Bronny James has six himself.

8:30 p.m.: Real nice step-back mid-range jumper from Dalton Knecht as he brings the Lakers within five at 50-45 in the winding seconds of the second quarter. He now has 10 points on the night. Tough shot from Knecht.

8:29 p.m.: Bronny James misses the put-back jumper. Houston retakes possession of the ball.

8:27 p.m.: Tommy Kuhse hit a big 3-pointer at the top of the key for the Lakers. Los Angeles now within six of Houston at 49-43.

8:24 p.m.: Dalton Knecht hits a 3-pointer to bring the Lakers within seven of the Rockets at 47-40. Timeout on the floor by the Lakers after Jermaine Samuels responded with a dunk on the other end that put Houston up nine, 49-40. 2:19 to go until halftime.

8:23 p.m.: Reed Sheppard gets called for the reach in foul. Solid defense tonight from the No. 3 overall pick however.

8:20 p.m.: Maxwell Lewis makes both free throws at the line, trimming the Lakers deficit with the Rockets to 44-35. Lakers are now 7 of 11 from the free throw on the night.

8:19 p.m.: Nate Williams hits the 3-pointer right in front of the bench. Houston takes its largest lead of the night at 44-33 with 4:27 to go in the second quarter. Nice pass from Reed Sheppard on the play.

8:15 p.m.: Lakers call a timeout on the floor as the Rockets lead 39-33 with 5:02 to go in the second quarter. Bronny James was called for the foul prior to the timeout.

8:14 p.m.: Maxwell Lewis is given a technical for hanging onto the basket after his dunk. Basket is good for Lewis which brings the Lakers deficit to 36-33. Free throw coming for the Rockets.

8:12 p.m.: Bronny James checks back into the game for the Lakers. He replaces Armel Traore on the floor.

8:10 p.m.: Trent Forrest ends a short Lakers offensive drought with a 13-foot driving floater. Lakers now trail the Rockets 33-29 with 7:16 in the second quarter.

8:07 p.m.: Moses Brown makes one of two free throws. Lakers take a 27-26 lead over the Rockets with 9:38 left in the second quarter.

8:07 p.m.: Rockets challenge is unsuccessful. Lakers head to the line shooting two free throws.

8:05 p.m.: Timeout on the floor as the Rockets challenge a call on the court.

8:04 p.m.: JJ Redick tells the ESPN broadcast that he liked Bronny James’ growth in defense thus far in the summer leagues. He said that he would like to see more ball pressure from Bronny on the defensive end.

Q1: Lakers 26, Rockets 26

8 p.m.: Lakers and Rockets are all knotted up at 26-26 at the end of the first quarter. Bronny James with six points for the Lakers in the first 10 minutes.

7:59 p.m.: Under a minute left in the first quarter.

7:57 p.m.: Dalton Knecht shows off his passing abilities as he finds Armel Traore for the alley-oop dunk. Real nice play and pass from the former Tennessee Volunteer.

7:57 p.m.: Dalton Knecht ties the game at 20-20 after making two of three free throws at the line. He is at five points on the night.

7:54 p.m.: Timeout on the floor in Las Vegas. Rockets narrowly lead the Lakers 20-18 with 2:49 to go in the frame after Nate Williams got one to roll in off the glass. Bronny James is on the bench for the Lakers with four points, which ties his summer league high.

7:53 p.m.: With under four minutes left in the first quarter, it is all tied up at 18-18 between the Lakers and Rockets. Both teams still settling into this one.

7:50 p.m.: Dalton Knecht drains a 3-pointer from the top of the key to push the Lakers lead to 16-13. It is his first points of the night.

7:49 p.m.: Bronny James makes both free throws out of the media timeout. He is up at four points on the night as the Lakers take a 13-12 lead with 5:30 to go in the first quarter.

7:48 p.m.: Tommy Kuhse leads the Lakers with three points at the first-quarter media timeout. Bronny James is 1-for-4 from the field with a turnover.

7:46 p.m.: Media timeout on the floor as the Rockets lead the Lakers 10-9 with 5:57 to go in the first quarter. Bronny James drew the foul under the basket before the stoppage of play.

7:45 p.m.: Bronny James starts the night 1 of 4 from the field as he misses the 3-pointer.

7:44 p.m.: Dalton Knecht gets the defensive rebound as Cam Whitmore misses the second free throw. It leads to a 3-pointer from Tommy Kuhse. Lakers lead 9-6 with 7:28 in Q1.

7:43 p.m.: Bronny James thinks about the 3 but drives to the basket. Shot is blocked from N’Faly Dante. Lakers ball on the inbound as they trail 5-4 to the Rockets with 7:59 left in Q1.

7:42 p.m.: Bronny James has his first points of the night on the drive to the basket. Lakers lead 4-2.

7:41 p.m.: Maxwell Lewis gets the Lakers on the board with a 3-foot dunk. He misses the and-one free-throw after. Tied game at 2-2.

7:41 p.m.: And we are underway in Las Vegas as Houston wins the tip

Pregame

7:35 p.m.: Tip-off is just a few minutes away in Las Vegas! Bronny James vs. Reed Sheppard loading….

7:12 p.m.: Bronny James and the Lakers have taken the court for warm-ups in Las Vegas ahead of tonight’s NBA Summer League contest vs. the Rockets. James is averaging 3.5 points, 3.5 rebounds and 2.5 assists in 25.3 minutes across two games this summer.

7:05 p.m.: Bronny James and the Lakers head out from the locker room to the court for Friday’s summer league game vs. the Rockets:

6:58 p.m.: Bronny James is in the lineup Friday for the Lakers summer league game vs. the Rockets:

6:57.: Just about 30 minutes until tip-off in Las Vegas. Lakers vs. Rockets will start after the conclusion of the New Orleans Pelicans vs. Minnesota Timberwolves game concludes.

6:05 p.m.: Dalton Knecht led the Lakers in points in their 80-76 loss to the Miami Heat on July 10, with 20 points on 7 of 18 shooting from the field. Colin Castleton led Los Angeles in rebounding with 11 boards.

6:04 p.m.: Under an hour and half from tip-off in Las Vegas, where Bronny James and the Lakers will take on the Rockets.

5:54 p.m.: Classy tribute here by the NBA, as it has put together a tribute seat for late NBA and Lakers legend Jerry West courtside at the Thomas & Mack Arena in Las Vegas. West passed away on June 12 at the age of 86. Famously known as ‘The Logo’ of the NBA, West played all 14 seasons in the NBA with the Lakers.

How to watch Lakers vs Rockets summer league game on TV?

TV: ESPN

ESPN will broadcast the Lakers and Rockets 2024 NBA Summer League game on Friday, July 12 at 7:30 p.m. ET from the Thomas & Mack Center in Las Vegas.

How to stream Lakers vs Rockets summer league game?

Stream: ESPN app | ESPN+ | Fubo (free trial)

You can stream Friday’s 2024 Las Vegas NBA Summer League contest between the Lakers and Rockets on the ESPN app by logging in with your TV provider credentials, on ESPN+ or on Fubo, which carries the ESPN family of networks and offers a free trial to select users.

What time is Lakers vs Rockets summer league game?

Date: Friday, July 12
Time: 7:30 p.m. ET

Bronny James and the Lakers will take on the Houston Rockets in Game 1 of the Las Vegas Summer League on Friday, July 12 at 7:30 p.m. ET inside the Thomas & Mack Center in Las Vegas.

Is Bronny James playing tonight vs. Rockets?

Yes. James is once again in the lineup for the Lakers. It is his third start this summer for Los Angeles.

How many points has Bronny James scored?

In two games in San Francisco — he did not play in the Lakers vs. the Warriors on July 7 due to a coaches’ decision — James finished with a combined seven points on 3-of-12 shooting (25%) from the field.

How tall is Bronny James?

On the Lakers official roster, James is listed at 6-foot-2.

When does Bronny James play next?

James next plays Friday, July 12 against the Houston Rockets at 7:30 p.m. ET in Game 1 of the NBA Summer League in Las Vegas.

Is LeBron James going to be in attendance to watch Bronny James?

No. LeBron James is currently in Abu Dhabi with USA Basketball for two exhibition games against Australia and Serbia before heading off to the 2024 Paris Olympics. The four-time NBA champion is competing in his first Olympics with USA Basketball since the 2012 London Olympics.

Bronny James summer league stats

In two games in the California Summer League last week, James averaged 3.5 points, 3.5 rebounds and 2.5 assists in 25.3 minutes per game while shooting 25% from the field. James did not play in the Lakers’ 92-68 loss against the Golden State Warriors on Sunday, July 7 due to a coach’s decision.

Here’s a game-by-game breakdown of James’ stats from the California Classic Summer League:

Game 1 vs. Sacramento Kings: Four points on 2-of-9 shooting from the field (0-for-3 from 3), two rebounds, two assists and an assist
Game 2 vs. Golden State Warriors: Did Not Play — Coach’s Decision
Game 3 vs. Miami Heat: Three points on 1-for-3 shooting from the field, five rebounds, three blocks, three assists and two steals

What is Bronny James’ contract?

Length: Four years
Total value: $7.9 million

James signed a four-year/$7.9 million contract with the Los Angeles Lakers on Wednesday, July 3 after the Lakers selected the USC guard with the No. 55 overall pick in the 2024 NBA Draft. As noted by Field of 68 Network’s Jeff Goodman, James’ contract with the Lakers is one of the bigger contracts for a player taken with the No. 55 overall pick in recent year. Last year’s No. 55 overall pick, Miami’s Isaiah Wong, signed a two-way contract with the Indiana Pacers that was worth around $600,000 and $700,000 per Goodman.

Here’s a breakdown of James’ Annual Average Value (AAV) per year according to ESPN:

2024-25: $1.15 million
2025-26: $1.95 million
2026-27: $2.29 million
2027-28: $2.48 million

Dalton Knecht summer league stats

Knecht, who went No. 17 overall to the Lakers in the 2024 NBA Draft, has started in all three summer league games this summer for Los Angeles. In those games, Knecht averaged 14.6 points.

Here’s a game-by-game breakdown of Knecht’s stats from the California Classic Summer League:

Game 1 vs. Sacramento Kings: 12 points on 3-of-12 shooting from the field (1-of-4 from 3), four assists, two steals and two rebounds
Game 2 vs. Golden State Warriors: 12 points on 3-of-13 shooting from the field (1-of-3 from 3), two steals, two rebounds and an assist
Game 3 vs. Miami Heat: 20 points on 7-of-18 shooting from the field (2-of-8 from 3), nine rebounds and one assist

Los Angeles Lakers summer league schedule

Here is the Lakers’ summer league schedule, including their three games in the California Classic Summer League:

Lakers summer league roster

Here’s the Lakers’ full 2024 Summer League roster:

Listed in numerical order

Guards

No. 4 Dalton Knecht (Tennessee)*
No. 9 Bronny James (USC)*
No. 27 Vincent Valerio-Bodon (Sopron KC — Hungary)
No. 29 Sean East II (Missouri)*
No. 30 Grayson Murphy (Belmont)*
No. 31 Tommy Kuhse (Saint Mary’s)
No. 41 Quincy Olivari (Xavier)*
No. 50 Kyle Mangas (Indiana Wesleyan)

Forwards

No. 14 Colin Castleton (Florida)
No. 21 Maxwell Lewis (Pepperdine)
No. 36 Blake Hinson (Pittsburgh)*
No. 37 Armel Traore (ABA Blois — France)*
No. 39 Mohamed Diarra (NC State)*
No. 55 Joirdon Nicholas (Texas Southern)

* denotes rookie status

Houston Rockets summer league schedule

Here is the Rockets’ summer league schedule:

Houston Rockets summer league roster

Here’s the Rockets’ full 2024 Summer League roster:

Listed in numerical order

Guard

No. 14 AJ Griffin (Duke)
No. 15 Reed Sheppard (Kentucky)*
No. 19 Nate Williams (Buffalo)
No. 41 Nate Hinton (Houston)
No. 55 Trevor Keels (Duke)
No. 56 Mike Miles (TCU)*
No. 57 Shahada Wells (McNeese State)*
No. 58 Vonterius Woolbright (Western Carolina)*
No. 60 Kira Lewis Jr. (Alabama)

Forward

No. 00 Jermaine Samuels Jr. (Villanova)
No. 3 N’Faly Dante (Oregon)*
No. 7 Cam Whitmore (Villanova)
No. 59 Orlando Robinson (Fresno State)
No. 61 Fabian White Jr. (Houston)*
No. 62 Morris Udeze (New Mexico)*

* denotes rookie status

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Why did Zach Edey sit out tonight’s Summer League game?

Purdue’s Zach Edey was one of the more polarizing prospects in the 2024 NBA Draft, and Memphis selected him No. 9 overall. At 7-foot-4 and 300 pounds, he’s the heaviest player in the league and tied with Boban Marjanović and Victor Wembanyama as the tallest players.

Edey made his NBA Summer League debut against Utah on Monday night and had an immediate impact: The former Boilermaker went 7 for 12 from the field for 14 points along with 15 rebounds and four blocks. He made a crucial shot at the end of regulation to send the game to overtime, where the Jazz won 97-95.

Today, the Grizzlies faced off against the Sacramento Kings and won 103-83. But Edey did not suit up for the game.

Why did Zach Edey sit out tonight’s Grizzlies-Kings game?

Edey missed his third Summer League game in a row tonight because of a sore ankle stemming from an injury in the win over the Jazz. He hurt his ankle early in that contest but came back into the game to make crucial buckets for the Grizzlies.

The Grizzlies are back in Summer League action Monday against the Dallas Mavericks. There’s currently no timetable for Edey’s return but that could be enough time for him to be back in action.

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Joey Chestnut ban takes bite out of hot dog contest TV ratings

With Joey Chestnut was barred from competing in the Nathan’s Hot Dog Eating Contest this year, ESPN’s broadcast of the event generated its lowest ratings in more than a decade.

The broadcast drew 831,000 viewers compared to about one million viewers in each of the previous two years, according to ESPN.

The lowest ratings since 2013 came during the pandemic in 2020, when the broadcast attracted 982,000 viewers, according to the network.

Chestnut, the 16-time champion of the July 4 event, competed in an exhibition against four soldiers on the Fort Bliss Army base in El Paso, Texas because he signed a sponsorship deal with Impossible Foods that led to his being banned by Nathan’s.

George Shea, the longtime emcee for the Nathan’s contest, had predicted higher TV ratings because of the “intense’ controversy surrounding Chestnut.

ESPN began televising the event in 2004 and TV ratings for that first decade were unavailable.

Since 2013, the three highest-rated broadcasts of Nathan’s contest came in 2014 with 2.7M viewers, 2019 with 1.5M viewers and 2021 with 1.3M viewers.

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Patrick, Brittany Mahomes announce they’re expecting third child

The Kansas City Chiefs can expect another new fan soon.

Star quarterback Patrick Mahomes and his wife, Brittany, announced Friday in a video reel posted jointly to their Instagram pages that they are expecting their third child. In the announcement, Brittany wrote the caption: ‘Round three, here we come .’

The post included a video in which Patrick and Brittany, both 28, are having a photo shoot with their two children, Sterling Skye (born 2021) and Patrick ‘Bronze’ Lavon Mahomes III (born 2022). In the video, Patrick and Brittany pose for photos and playfully chase and dance with their children. The Mahomeses are wearing all-white outfits and holding ultrasound photos. The soundtrack to the video is “Count on Me” by Bruno Mars.

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This marks the second significant trio that the Mahomeses are celebrating in the past year. In February, Patrick and the Chiefs toppled the San Francisco 49ers in Super Bowl 58, giving Mahomes his third Lombardi Trophy, as well as his third Super Bowl Most Valuable Player award.

All things Chiefs: Latest Kansas City Chiefs news, schedule, roster, stats, injury updates and more.

Mahomes married Brittany (née Matthews), his high school sweetheart, in March 2022. Brittany played soccer for University of Texas-Tyler and set single-season records as a senior with 40 points and 18 goals. Her career totals of 78 points, 31 goals, and 111 shots on goal are second in program history. She played in five games for the Icelandic soccer team UMF Afturelding and scored two goals before retiring.

The couple is also a part of the ownership group of the National Women’s Soccer League’s Kansas City Current. Mahomes also has invested in the MLB’s Kansas City Royals, MLS’ Sporting Kansas City, and the Formula One team Alpine.

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Serena Williams takes shot at Harrison Butker during ESPYS

LOS ANGELES – ESPYS host Serena Williams poked fun at multiple celebrities while on stage at the Dolby Theatre Thursday night. But perhaps her most memorable jab was directed at Kansas City Chiefs kicker Harrison Butker.

The moment happened when Williams, her older sister Venus, and actress Quinta Brunson were on stage discussing women’s sports.

‘So, go ahead and enjoy women’s sports like you would any other sports, because they are sports,” Venus said.

Then Serena quickly replied: ‘Except you, Harrison Butker. We don’t need you.’

Butker was seen on the red carpet at the ESPY Awards Thursday night.

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Serena’s verbal jab came in response to Butker’s controversial comments about women he made at a commencement speech at Benedictine College earlier this year.

“For the ladies present today, congratulations on an amazing accomplishment. You should be proud of all that you have achieved to this point in your young lives. I want to speak directly to you briefly because I think it is you, the women, who have had the most diabolical lies told to you,” Butker said to the graduates. “How many of you are sitting here now about to cross this stage and are thinking about all the promotions and titles you are going to get in your career? Some of you may go on to lead successful careers in the world, but I would venture to guess that the majority of you are most excited about your marriage and the children you will bring into this world.”

Butker received widespread backlash after portions of his commencement speech went viral.

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Lakers vs. Rockets: Updates, scores, highlights of NBA Summer League Game

The 2024 NBA Summer League starts Friday in Las Vegas and Bronny James headlines the talent in Friday’s slate of games.

Alongside first-round pick Dalton Knecht, James — the No. 55 overall pick in the 2024 NBA Draft out of USC — will lead the Los Angeles Lakers into their Las Vegas Summer League lid-lifter vs. the Houston Rockets at 7:30 p.m. ET inside the Thomas & Mack Center.

It’s been a tough start to the summer for both James and the Lakers, who dropped all three of their games in the California Classic Summer League last week to the Miami Heat, Sacramento Kings and Golden State Warriors.

Meanwhile, Friday night’s contest in Las Vegas will be the first Houston has played this season. The Rockets’ summer league roster is headlined by No. 3 overall pick Reed Sheppard and 2023 first-round pick Cam Whitmore. Sheppard shot 53.6% from the floor and a nation-best 52.1% from 3-point range last season at Kentucky, where he was the SEC’s Freshman of the Year.

With that, follow along here for live updates, highlights and scores of Bronny James and the Lakers’ NBA Summer League game vs. the Houston Rockets on Friday:

Lakers vs Rockets summer league box score: Rockets 72, Lakers 56

Lakers vs. Rockets summer league updates, highlights

All times Eastern

Q3: Rockets 72, Lakers 56

8:58 p.m.: It’s been all Rockets here in the third quarter as Cam Whitmore slams one home for the second time tonight. The former Villanova Wildcat has 14 points on the night.

8:57 p.m.: Orlando Robinson with a wide-open dunk to extend Houston’s lead to 75-56.

8:55 p.m.: Timeout on the floor as the Rockets lead the Lakers 72-56. 2:47 to go in the third quarter.

8:53 p.m.: Maxwell Lewis gets called for the travel. Lakers have struggled to establish a consistent offense in the third quarter as the Rockets lead 72-56. Houston outscoring Los Angeles 18-11 in the third quarter thus far.

8:51 p.m: Dalton Knecht gives the Lakers a much-needed basket as he gets out off the glass to roll in. Lakers now trail the Rockets 70-54 with under four minutes to go in the third quarter.

8:50 p.m.: Reed Sheppard extends the Rockets lead to 68-52 with a logo 3-pointer. Steph Curry range 3 for the rookie out of Kentucky.

8:47 p.m.: Timeout on the floor. Rockets lead the Lakers 65-52.

8:46 p.m.: Bronny James’ struggles continue on the floor as he misses the 3.

8:45 p.m.: Cam Whitmore with a flying dunk off the assist from Reed Sheppard. Rockets lead 63-50.

8:42 p.m.: Bronny James can’t finish the alley hoop from Maxwell Lewis. Tough miss for James and the Lakers.

8:42 p.m.: Bronny James turned over the ball as he started driving to the basket. It leads to a floater from Nate Williams which puts the Rockets up 56-45.

8:41 p.m.: Bronny James is out there to start the second half for the Lakers. He already has a summer league-high six points on the night.

8:38 p.m.: Lakers shot 40.5% from the field in the first while compared to the Rockets’ 44.2%. Both teams combined for 13 turnovers in the first 20 minutes of action.

Q2: Rockets 54, Lakers 45

8:31 p.m.: Lakers trail the Rockets 54-45 at halftime after Maxwell Lewis’ shot at the buzzer is deemed no good. Dalton Knecht leads the Lakers with 10 points while Bronny James has six himself.

8:30 p.m.: Real nice step-back mid-range jumper from Dalton Knecht as he brings the Lakers within five at 50-45 in the winding seconds of the second quarter. He now has 10 points on the night. Tough shot from Knecht.

8:29 p.m.: Bronny James misses the put-back jumper. Houston retakes possession of the ball.

8:27 p.m.: Tommy Kuhse hit a big 3-pointer at the top of the key for the Lakers. Los Angeles now within six of Houston at 49-43.

8:24 p.m.: Dalton Knecht hits a 3-pointer to bring the Lakers within seven of the Rockets at 47-40. Timeout on the floor by the Lakers after Jermaine Samuels responded with a dunk on the other end that put Houston up nine, 49-40. 2:19 to go until halftime.

8:23 p.m.: Reed Sheppard gets called for the reach in foul. Solid defense tonight from the No. 3 overall pick however.

8:20 p.m.: Maxwell Lewis makes both free throws at the line, trimming the Lakers deficit with the Rockets to 44-35. Lakers are now 7 of 11 from the free throw on the night.

8:19 p.m.: Nate Williams hits the 3-pointer right in front of the bench. Houston takes its largest lead of the night at 44-33 with 4:27 to go in the second quarter. Nice pass from Reed Sheppard on the play.

8:15 p.m.: Lakers call a timeout on the floor as the Rockets lead 39-33 with 5:02 to go in the second quarter. Bronny James was called for the foul prior to the timeout.

8:14 p.m.: Maxwell Lewis is given a technical for hanging onto the basket after his dunk. Basket is good for Lewis which brings the Lakers deficit to 36-33. Free-throw coming for the Rockets.

8:12 p.m.: Bronny James checks back into the game for the Lakers. He replaces Armel Traore on the floor.

8:10 p.m.: Trent Forrest ends a short Lakers offensive drought with a 13-foot driving floater. Lakers now trail the Rockets 33-29 with 7:16 in the second quarter.

8:07 p.m.: Moses Brown makes one of two free throws. Lakers take a 27-26 lead over the Rockets with 9:38 left in the second quarter.

8:07 p.m.: Rockets challenge is unsuccessful. Lakers head to the line shooting two free throws.

8:05 p.m.: Timeout on the floor as the Rockets challenge a call on the court.

8:04 p.m.: JJ Redick tells the ESPN broadcast that he liked Bronny James’ growth in defense thus far in the summer leagues. He said that he would like to see more ball pressure from Bronny on the defensive end.

Q1: Lakers 26, Rockets 26

8 p.m.: Lakers and Rockets are all knotted up at 26-26 at the end of the first quarter. Bronny James with six points for the Lakers in the first 10 minutes.

7:59 p.m.: Under a minute left in the first quarter.

7:57 p.m.: Dalton Knecht shows off his passing abilities as he finds Armel Traore for the alley-oop dunk. Real nice play and pass from the former Tennessee Volunteer.

7:57 p.m.: Dalton Knecht ties the game at 20-20 after making two of three free throws at the line. He is at five points on the night.

7:54 p.m.: Timeout on the floor in Las Vegas. Rockets narrowly lead the Lakers 20-18 with 2:49 to go in the frame after Nate Williams got one to roll in off the glass. Bronny James is on the bench for the Lakers with four points, which ties his summer league high.

7:53 p.m.: With under four minutes left in the first quarter, it is all tied up at 18-18 between the Lakers and Rockets. Both teams still settling into this one.

7:50 p.m.: Dalton Knecht drains a 3-pointer from the top of the key to push the Lakers lead to 16-13. It is his first points of the night.

7:49 p.m.: Bronny James makes both free throws out of the media timeout. He is up at four points on the night as the Lakers take a 13-12 lead with 5:30 to go in the first quarter.

7:48 p.m.: Tommy Kuhse leads the Lakers with three points at the first-quarter media timeout. Bronny James is 1-for-4 from the field with a turnover.

7:46 p.m.: Media timeout on the floor as the Rockets lead the Lakers 10-9 with 5:57 to go in the first quarter. Bronny James drew the foul under the basket before the stoppage of play.

7:45 p.m.: Bronny James starts the night 1 of 4 from the field as he misses the 3-pointer.

7:44 p.m.: Dalton Knecht gets the defensive rebound as Cam Whitmore misses the second free throw. It leads to a 3-pointer from Tommy Kuhse. Lakers lead 9-6 with 7:28 in Q1.

7:43 p.m.: Bronny James thinks about the 3 but drives to the basket. Shot is blocked from N’Faly Dante. Lakers ball on the inbound as they trail 5-4 to the Rockets with 7:59 left in Q1.

7:42 p.m.: Bronny James has his first points of the night on the drive to the basket. Lakers lead 4-2.

7:41 p.m.: Maxwell Lewis gets the Lakers on the board with a 3-foot dunk. He misses the and-one free-throw after. Tied game at 2-2.

7:41 p.m.: And we are underway in Las Vegas as Houston wins the tip

Pregame

7:35 p.m.: Tip-off is just a few minutes away in Las Vegas! Bronny James vs. Reed Sheppard loading….

7:12 p.m.: Bronny James and the Lakers have taken the court for warm-ups in Las Vegas ahead of tonight’s NBA Summer League contest vs. the Rockets. James is averaging 3.5 points, 3.5 rebounds and 2.5 assists in 25.3 minutes across two games this summer.

7:05 p.m.: Bronny James and the Lakers head out from the locker room to the court for Friday’s summer league game vs. the Rockets:

6:58 p.m.: Bronny James is in the lineup Friday for the Lakers summer league game vs. the Rockets:

6:57.: Just about 30 minutes until tip-off in Las Vegas. Lakers vs. Rockets will start after the conclusion of the New Orleans Pelicans vs. Minnesota Timberwolves game concludes.

6:05 p.m.: Dalton Knecht led the Lakers in points in their 80-76 loss to the Miami Heat on July 10, with 20 points on 7 of 18 shooting from the field. Colin Castleton led Los Angeles in rebounding with 11 boards.

6:04 p.m.: Under an hour and half from tip-off in Las Vegas, where Bronny James and the Lakers will take on the Rockets.

5:54 p.m.: Classy tribute here by the NBA, as it has put together a tribute seat for late NBA and Lakers legend Jerry West courtside at the Thomas & Mack Arena in Las Vegas. West passed away on June 12 at the age of 86. Famously known as ‘The Logo’ of the NBA, West played all 14 seasons in the NBA with the Lakers.

How to watch Lakers vs Rockets summer league game on TV?

TV: ESPN

ESPN will broadcast the Lakers and Rockets 2024 NBA Summer League game on Friday, July 12 at 7:30 p.m. ET from the Thomas & Mack Center in Las Vegas.

How to stream Lakers vs Rockets summer league game?

Stream: ESPN app | ESPN+ | Fubo (free trial)

You can stream Friday’s 2024 Las Vegas NBA Summer League contest between the Lakers and Rockets on the ESPN app by logging in with your TV provider credentials, on ESPN+ or on Fubo, which carries the ESPN family of networks and offers a free trial to select users.

What time is Lakers vs Rockets summer league game?

Date: Friday, July 12
Time: 7:30 p.m. ET

Bronny James and the Lakers will take on the Houston Rockets in Game 1 of the Las Vegas Summer League on Friday, July 12 at 7:30 p.m. ET inside the Thomas & Mack Center in Las Vegas.

Is Bronny James playing tonight vs. Rockets?

Yes. James is once again in the lineup for the Lakers. It is his third start this summer for Los Angeles.

How many points has Bronny James scored?

In two games in San Francisco — he did not play in the Lakers vs. the Warriors on July 7 due to a coaches’ decision — James finished with a combined seven points on 3-of-12 shooting (25%) from the field.

How tall is Bronny James?

On the Lakers official roster, James is listed at 6-foot-2.

When does Bronny James play next?

James next plays Friday, July 12 against the Houston Rockets at 7:30 p.m. ET in Game 1 of the NBA Summer League in Las Vegas.

Is LeBron James going to be in attendance to watch Bronny James?

No. LeBron James is currently in Abu Dhabi with USA Basketball for two exhibition games against Australia and Serbia before heading off to the 2024 Paris Olympics. The four-time NBA champion is competing in his first Olympics with USA Basketball since the 2012 London Olympics.

Bronny James summer league stats

In two games in the California Summer League last week, James averaged 3.5 points, 3.5 rebounds and 2.5 assists in 25.3 minutes per game while shooting 25% from the field. James did not play in the Lakers’ 92-68 loss against the Golden State Warriors on Sunday, July 7 due to a coach’s decision.

Here’s a game-by-game breakdown of James’ stats from the California Classic Summer League:

Game 1 vs. Sacramento Kings: Four points on 2-of-9 shooting from the field (0-for-3 from 3), two rebounds, two assists and an assist
Game 2 vs. Golden State Warriors: Did Not Play — Coach’s Decision
Game 3 vs. Miami Heat: Three points on 1-for-3 shooting from the field, five rebounds, three blocks, three assists and two steals

What is Bronny James’ contract?

Length: Four years
Total value: $7.9 million

James signed a four-year/$7.9 million contract with the Los Angeles Lakers on Wednesday, July 3 after the Lakers selected the USC guard with the No. 55 overall pick in the 2024 NBA Draft. As noted by Field of 68 Network’s Jeff Goodman, James’ contract with the Lakers is one of the bigger contracts for a player taken with the No. 55 overall pick in recent year. Last year’s No. 55 overall pick, Miami’s Isaiah Wong, signed a two-way contract with the Indiana Pacers that was worth around $600,000 and $700,000 per Goodman.

Here’s a breakdown of James’ Annual Average Value (AAV) per year according to ESPN:

2024-25: $1.15 million
2025-26: $1.95 million
2026-27: $2.29 million
2027-28: $2.48 million

Dalton Knecht summer league stats

Knecht, who went No. 17 overall to the Lakers in the 2024 NBA Draft, has started in all three summer league games this summer for Los Angeles. In those games, Knecht averaged 14.6 points.

Here’s a game-by-game breakdown of Knecht’s stats from the California Classic Summer League:

Game 1 vs. Sacramento Kings: 12 points on 3-of-12 shooting from the field (1-of-4 from 3), four assists, two steals and two rebounds
Game 2 vs. Golden State Warriors: 12 points on 3-of-13 shooting from the field (1-of-3 from 3), two steals, two rebounds and an assist
Game 3 vs. Miami Heat: 20 points on 7-of-18 shooting from the field (2-of-8 from 3), nine rebounds and one assist

Los Angeles Lakers summer league schedule

Here is the Lakers’ summer league schedule, including their three games in the California Classic Summer League:

Lakers summer league roster

Here’s the Lakers’ full 2024 Summer League roster:

Listed in numerical order

Guards

No. 4 Dalton Knecht (Tennessee)*
No. 9 Bronny James (USC)*
No. 27 Vincent Valerio-Bodon (Sopron KC — Hungary)
No. 29 Sean East II (Missouri)*
No. 30 Grayson Murphy (Belmont)*
No. 31 Tommy Kuhse (Saint Mary’s)
No. 41 Quincy Olivari (Xavier)*
No. 50 Kyle Mangas (Indiana Wesleyan)

Forwards

No. 14 Colin Castleton (Florida)
No. 21 Maxwell Lewis (Pepperdine)
No. 36 Blake Hinson (Pittsburgh)*
No. 37 Armel Traore (ABA Blois — France)*
No. 39 Mohamed Diarra (NC State)*
No. 55 Joirdon Nicholas (Texas Southern)

* denotes rookie status

Houston Rockets summer league schedule

Here is the Rockets’ summer league schedule:

Houston Rockets summer league roster

Here’s the Rockets’ full 2024 Summer League roster:

Listed in numerical order

Guard

No. 14 AJ Griffin (Duke)
No. 15 Reed Sheppard (Kentucky)*
No. 19 Nate Williams (Buffalo)
No. 41 Nate Hinton (Houston)
No. 55 Trevor Keels (Duke)
No. 56 Mike Miles (TCU)*
No. 57 Shahada Wells (McNeese State)*
No. 58 Vonterius Woolbright (Western Carolina)*
No. 60 Kira Lewis Jr. (Alabama)

Forward

No. 00 Jermaine Samuels Jr. (Villanova)
No. 3 N’Faly Dante (Oregon)*
No. 7 Cam Whitmore (Villanova)
No. 59 Orlando Robinson (Fresno State)
No. 61 Fabian White Jr. (Houston)*
No. 62 Morris Udeze (New Mexico)*

* denotes rookie status

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