OpenAI is planning to shut down its popular video generation app Sora. Just the latest pivot as the company looks toward its IPO and probably faces substantial competitive pressures as well from the likes of Anthropic and Google. Mackenzie Sagalos has more in today's tech check.Hi Mac. Hey Kelly. So this is all about OpenAI doubling down on discipline as it moves closer to an IPO.Sora may have looked like a breakout hit at launch, but the app's momentum faded quickly. It was pushed out just weeks after Goog ...

are still only down 5% or less since Jan 1. Let's bring in Steve Sausnik. He's the chief strategist at Interactive Brokers here on set with me.I mean, maybe maybe forget it now that we've seen the two-year and everything go, but what did the market internals tell you. >> The market internals tell me that we still have this underlying bid. There's still this undercurrent of FOMO. There's still nobody who wants to miss a rally.And as a result, partially because, as Jeff Curry said earlier, that that oil is no ...

Concentration Risk & Diversification - The market is seeing flows into equal-weighted S&P 500 funds, potentially driven by concerns about concentration risk with large companies like Nvidia (8% of S&P 500) and Microsoft (close to 7%) in ETFs like SPY and VO [1][2] - Investors are seeking diversification benefits through equally weighted approaches and actively managed ETFs [3] - Actively managed equity ETFs from firms like Toro Price, Capital Group, and Fidelity offer expert management decisions on stock selection, potentially mitigating concentration risk [4] - Diversification can serve as a hedge against concentration risk, protecting against excessive run-ups in individual names [5] - One solution to overconcentration risk is an ETF that equal weights 100 names from a quality-screened universe, matching the sector weights of the S&P 500 [6] - History shows that companies riding high can decline (e.g., Kodak, IBM, GE, Lucent, Cisco), so advisors should consider pruning back gains from Nvidia and Microsoft without incurring taxes [7] Momentum Strategies - The S&P 500 momentum index is up more than 34% this year, reflecting a "risk-on" sentiment [8] - Momentum strategies, like the Invesco S&P 500 Momentum ETF (SPMO), focus on stocks with the strongest relative strength and have been outperforming the broader S&P 500 [9] - Momentum ETFs contain stocks beyond just technology, including consumer discretionary (Kohl's, American Eagle), financials (JP Morgan), and consumer staples (Walmart, Costco) [10] - It's crucial to understand the specific holdings and construction of momentum ETFs to ensure they align with investment goals [11] - Momentum is a factor that has historically outperformed the broader marketplace [13]