* House set to vote on debt-ceiling deal after it clears key committee
* China’s manufacturing sector contracts for second month in May via survey data
* Index funds have become tech-heavy growth funds
* Texas, a leader in wind energy, is turning against its green-energy industry
* Orders continue to slide for Texas manufacturing sector in May
* US home prices rise in March after falling for seven months
* US consumer confidence eases to 6-month low in May:
Lending conditions have tightened in the US recently, the most since the Covid pandemic was raging, reports The Wall Street Journal. The tighter lending climate is a strengthening headwind for the economy. “Recessions over the past 30 years have closely tracked the willingness of banks to lend out the cash they collect from depositors,” the Journal notes.
The Morningstar article linked as ” Index funds have become tech-heavy growth funds” indicates otherwise; although the S&P 500 index is top-heavy with tech stocks, they don’t dominate the index. A nice analysis that runs counter to prevailing opinion.
DanM,
Yes, that’s the conclusion of the article, based on correlations, but I think there’s a strong case to disgree by looking at the issue from a different perspective, thus my news line.
–JP