Stocks on Friday finished their best June in decades, capping a strong first half of 2019 and a big rebound from May’s market downer. But the good news is tempered by the fact that investors relied on five giant companies for a third of the gains over the past quarter, reflecting the digital economy’s remarkable growth and its potential for fragility.
Three of the Standard & Poor’s 500 index leaders — Facebook, Apple and Amazon — have come under scrutiny from regulators and politicians in the past several months for their consumer dominance. Microsoft and Walt Disney round out the big five performers.
“Stocks Cap Best First Half Since 1997” @WSJ Our Country is doing great!
— Donald J. Trump (@realDonaldTrump) July 1, 2019