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THU, MAY 11, 2023

Tomorrow’s Top CNBC Stories Tonight

Big Tech’s big week

Alphabet is up 10.4% this week, and it’s 5% from a 52-week high.
Netflix is up nearly 7% this week. Shares are 9% from a 52-week high.
Amazon is up 6% this week. Shares are still 23.5% from a 52-week high.
Alibaba is up 5.6% this week. Shares are still 30% from the 52-week high.
Meta is up about 1.3% this week. Shares are 3% from a 52-week high.
Apple is flat for the week, but up 8% in a month. It’s 1% from a 52-week high.
Microsoft is also flat this week, but up 9.6% in a month. It’s right near a 52-week high.

Closing in on highs

CNBC’s Mike Santoli first mentioned the large amount of companies in the S&P 500 that are near 52-week highs on “Closing Bell” right before 4 p.m. ET today.
In a count this afternoon after the bell, 102 members of the S&P 500 are now within 5% of a 52-week high.
The SPDR S&P 500 ETF, which tracks the index in a weighted format, is 4.5% from its 52-week high.
Among S&P sectors, tech, consumer staples, communications services and industrials are all within 5% of their 52-week highs. Health care is just outside of that range at 5.3% from its high.
Telecom, real estate and energy are the furthest from their 52-week highs. Telecom is 20% from the high. Real estate is 19% from the high, and energy is 16% from the high.

Weighted versus equal weighted

The SPY, which is weighted, is up 7% in 2023.
The Invesco S&P 500 Equal Weight ETF (RSP) is flat in 2023.
The Invesco QQQ ETF (QQQ), weighted, is up 22.5% in 2023.
The First Trust NASDAQ-100 Equal Weighted Index Fund (QQEW) is up 10.6% in 2023.

Regional banks

If you watched CNBC today, you saw the sector take another beating on deposit worries.
The SPDR S&P Regional Banking ETF (KRE) fell 2.5% today, down 5.7% in four days.
The worst performers this week are Bank of Hawaii, down nearly 20% and PacWest, down 18.4%. Eagle Bancorp, based in the great state of Maryland, is down 15%.