The decision is the second in less than a month by an appeals court that states have a role in regulating sports-related event contracts.

Wall Street stocks rebounded on Friday to finish a volatile week on a positive note, greeting a drop in oil prices on hopes for a US-Iran agreement that could lead to the reopening of the Strait of Hormuz. The Dow Jones Industrial Average added 478.64 points, or 0.9 percent, to 51,828.62, the S&P 500 gained 39.38 points or 0.5 percent to 7,743.41, and the Nasdaq Composite rose 129.35 points, or 0.5 percent to 27,068. Markets weighed mixed signals from the UN General Assembly in New York this week on the state of play between Washington and Tehran. While both US President Donald Trump and Iranian President Masoud Pezeshkian included tough rhetoric against each other in UN addresses, Iranian Foreign Minister Abbas Araghchi proposed a plan that would include the reopening of the Strait of Hormuz within seven days. "It is a dubious offer considering Iran hasn't changed its conditions from before," said Patrick O'Hare, an analyst at Briefing.com. "We'll see how long the glow of Iran's offer lasts." But Angelo Kourkafas of Edward Jones said "there is some hope for a diplomatic way to the war in the Middle East with oil prices falling a little bit today." Investors seemed to settle on a glass-half-full perspective, leading to a more two percent drop in oil prices, while major US stock indices were in positive territory most of the day. "We have a tug-of-war between rising interest rates and volatile energy prices against very solid corporate and economic fundamentals," Kourkafas said. Inflation fears from the Strait of Hormuz closure, alongside the risk of further Gulf supply cuts due to Houthi strikes on Saudi infrastructure on the Red Sea, have again pushed up government bond yields, with investors demanding higher returns for lending money. The benchmark US 10-year Treasury yield hit its highest level since 2007 on Thursday, and Japan's government bond yields also hit multi-year highs. (AFP) Edited by Robert Kemp