Hedge funds delivered their first-half best performance in a decade, rising more than 7% overall, according to data from eVestment. The industry also saw gains in June after a downturn in May when investors sold losing funds and bought winners.
Between the lines: Hedge fund divergence continued with long/short, equity, and event-driven funds delivering the best returns so far this year, while FX, commodity and fixed-income funds barely had positive returns.
Investors pulled more than $25 billion out of U.S. equity funds in the week ending July 2, right as the stocks were hitting all-time highs, data shows.
The big picture: It was the second highest level of fund redemptions for domestic stocks since the Investment Company Institute began tracking data in January 2013. ICI's data mainly tracks retail investors who have close to $10 trillion invested in domestic mutual funds and ETFs.
Consumers are so stressed about finding the right thing to watch on their streaming services that, after a few minutes scanning the options, many decide to watch something they've already seen, revert back to traditional TV, or turn the tube off altogether.
Why it matters: As more companies jump into the streaming wars, the choice-overload problem could alienate customers, drive away subscribers and limit the industry's growth.
From Oscar Mayer and Campbell's to Clairol and CoverGirl, some of America's most famous supermarket and drug store brands are losing market share as consumers' tastes and shopping habits change.
Why it matters: The challenges facing well-loved brands reflect shifts that aren't likely to swing back in their favor. As older companies scramble to keep up with upstart competitors, they are introducing more modern product lines, like ones with plant-based ingredients.
R&B singer R. Kelly was arrested Thursday and charged with 13 counts of federal sex crimes, including child pornography charges, per the AP.
Details: It's Kelly's second arrest this year on sex charges after Illinois charged him with aggravated sexual abuse in February. Kelly has faced multiple accusations that he sexually abused girls and held women against their will in a "sex cult" — which became the subject of multiple documentaries produced by the BBC, Lifetime, and Hulu.
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