The bottom line
■ Right now, buying an S&P 500 index fund means investing 30 percent of the money in just seven stocks. Historically, the top seven have accounted for 21 percent of the benchmark.
The Wall Street Journal
■ The price of Bitcoin topped $42,000 this week, its highest level since April 2022. If it surpasses $46,300, all of the losses of 2022 will be wiped away.
Axios
■ Sofie Kirk Kristiansen, 47, the great-granddaughter of Lego’s founder, sold 4 million shares in Kirkbi, the toymaker’s parent company, for $930 million. The Kristiansen family’s wealth, built on the Lego fortune, is around $27 billion.
Bloomberg
■ Apple this week regained the $3 trillion mark in total market cap, the first time it has come up to that mark since August.
CNBC.com
■ Establishments with fewer than 10 employees accounted for 21 percent of all job openings in September, the highest share on record dating back to 2000. Openings at the country’s smallest private establishments rose nearly 20 percent in September from a year earlier, while falling for larger companies.
The Wall Street Journal
■ Ikea reported a record year with over $6.3 billion in total sales, up 6.6 percent year over year. It said it’s now cutting prices on hundreds of products.
Retail Dive
■ A Chinese food blogger who posted pictures of her meal on the WeChat social network accidentally included an ordering QR code. Before she had even left the table, the code was used to order 430,000 yuan (about $60,000) of food. The restaurant canceled the orders.
South China Morning Post