Stocks suffered a late-day fade on Friday, but they’re not doing much of anything in the early going today. Crude oil, gold, and silver are all lower, while Treasuries and the dollar are mostly flat.
On the news front…
Should a narrow advance led by a handful of “Big Tech” names be LESS of a worry for investors? That’s what a new Bloomberg article suggests. Read it for a contrarian take on the issue that keeps coming up because seven top tech stocks now account for 28% of the S&P 500, compared with 20% at the start of the year. They are: Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), Amazon.com (AMZN), Nvidia (NVDA), Telsa (TSLA), and Meta Platforms (META).
Speaking of Meta, the parent company of Facebook and Instagram has reportedly signed up 100 million people for its new Threads app in just five days. CEO Mark Zuckerberg launched the “Twitter Killer” app on June 5. Some users have complained about its lack of post search, direct messaging, and hashtag functionality, though.
Shorter lines? Thinner crowds? Easier reservations for dinner? That’s what vacationers are finding at The Walt Disney Co. (DIS) theme parks this summer, according to the Wall Street Journal. While it might be bad for corporate earnings, it’s great news for consumers looking to enjoy the parks rather than melt in hour-long lines under the Florida sun.
