Germany's Antitrust Regulators Target Facebook; Tech Stocks Bounce Back -- ICYMI Friday

After Tesla Inc. (TSLA), perhaps the most polarizing company on Wall Street, took a chunk out of the markets earlier in the week, promising jobs numbers for June helped buoy stocks on Friday, saving the week for Wall Street in spite of turmoil abroad.

Meanwhile, the tech sector came back in a big way on Friday, though one of the most prominent names in the sector could be in for a rude awakening.

As Alphabet Inc. (GOOGL) did earlier this year, Facebook Inc. (FB) now finds itself in the crosshairs of a European investigation as Germany's Federal Cartel Office is currently looking into whether its dominance has given consumers no choice but to agree to its terms and conditions.

And in case there weren't enough headwinds facing the industry (inflated valuations aside), there could be trouble brewing for Intel. According to TheStreet's tech columnist Eric Jhonsa, a recently filed suit by Qualcomm Inc. (QCOM) against Apple Inc. (AAPL) could actually be designed to also take a bite out of Intel's power in chipmaking.

Potential issues for some of the big tech names, an overvaluation in some corners of the stock market and a flash crash in silver however, should deter investors thinking of putting their money down on U.S. stocks. According to Jack Bogle, the founder of the Vanguard Group, despite stocks trading at about 23 times trailing earnings, the U.S., with its diverse and expanding economy, remains the best place to put your money.

And before I let you go, it just wouldn't be right if I didn't talk about the week that was in activist investing.

From a potential shakeup at Leucadia National Corp. (LUK), once known as "the other Berkshire Hathaway," to the latest activist win at finance technology company Synchronoss Technologies Inc. (SNCR), it has been another banner week for the insurgent investors. If only one of them could figure out Sears (SHLD) or Macy's Inc. (M) or heck, the retail sector in general, maybe some of those companies would have a better go of it. Maybe not, though. Just look at Whole Foods Market Inc. (WFM).

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Photo of the day: Will Foot Locker follow in the steps of Kinney Shoes or will it survive?
 
 
Foot Locker Inc. (FL) has for years proved to be one of the retail sector's better performing stocks as exclusive products from Nike Inc. (NKE) and others helped keep the company insulated from the effects of the likes of Amazon.com Inc. (AMZN). Foot Locker was founded in 1974 as a part of Kinney Shoe Corp., a division of F.W. Woolworth Co. Since opening its first mall-based store in 1974 in Puente Hills Mall in City of Industry, Calif., the company has ballooned to about 2,300 locations. But with Nike agreeing last week to start selling some of its products on Amazon, the stock has taken a hit. On Friday Oppenheimer analysts initiated coverage of the stock and said that the company may now be over-stored. Will Foot Locker go the way of its predecessor Kinney, which closed its doors in 1998, or will it survive the Amazon onslaught?
 
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