The evolution of indie theaters, shrinking homes, cryogenic craters on the moon: Catch up on the day’s stories

👋 Welcome to 5 Things PM! If you’ve been watching the Olympics, you’ve probably found yourself in awe of how the athletes bend this way and that without even batting an eye. Flexibility is important for everyone, and the experts shared some tips for how you can improve yours.

Here’s what else you might have missed during your busy day:

5 things

1️⃣ Screen time: Small independent theaters have often been fixtures in the community for decades, but they’re finding it hard to compete with massive megaplexes and the allure of streaming. Here’s what they are doing to stay afloat.

2️⃣ Shrinking homes: Americans are known for embracing the mantra that bigger is better. We want larger cars, giant water bottles and hefty food portions. When it comes to houses though, builders are scaling back, and that could be good news for first-time buyers.

3️⃣ Fragile friendships: Women often form closer emotional bonds with one another than men do, but these relationships don’t come without challenges. Understanding the subtle complexities can lead to healthier and happier connections.

4️⃣ Life preservers: This one falls in the category of what will they think of next? Scientists came up with a plan to safeguard Earth’s species by preserving them cryogenically on the moon. The moon’s craters are in the shadows and therefore cold enough for storage.

5️⃣ Fetching scent: Dolce & Gabbana just launched a new perfume inspired by a designer’s “unconditional love” — but it’s not for humans.

Watch this

🏅 Memorable moment: US women’s gymnastics stars Simone Biles and Jordan Chiles honored Rebeca Andrade after she beat them on floor exercise at the Olympics and took home a gold medal for Brazil.

Top headlines

• Debby unleashes dangerous amounts of rain after making landfall in Florida
• Dow and S&P 500 finish their worst day since 2022
• Google loses massive antitrust lawsuit over its search dominance

What’s buzzing

🎤 Fan favorite: Pop star Chappell Roan drew a massive crowd at the Lollapalooza music festival in Chicago. Organizers called it “the biggest daytime set we’ve ever seen.”

Check this out

🐦 Prized perch: New Yorkers probably think a rat or a cockroach is a more fitting symbol of the city, but a giant pigeon sculpture will stand guard from the High Line trail starting this fall.

$385,000

💡 The starting price of a bespoke LED display wall that some wealthy people are installing in their garages and super luxe “man caves.”

Olympics update

⚽ Late drama: Spain scored a goal in the 86th minute to beat Morocco in men’s soccer and reach the gold medal match for the second straight Olympics. Follow live updates.

Quiz time

🚢 Which European hot spot, nicknamed “Instagram island,” plans to limit the number of cruise ship passengers allowed to visit?
A. Ibiza
B. Santorini
C. Corsica
D. Malta
⬇️ Scroll down for the answer.

Good vibes

😎 We like to wrap things up on a positive note: Team USA discus thrower Veronica Fraley said she’s struggling to make ends meet. Rapper Flavor Flav and tech entrepreneur Alexis Ohanian, who have been cheering on athletes at the Summer Olympics in Paris, stepped in to pay her rent.

Thanks for reading

👋 We’ll see you tomorrow.
🧠 Quiz answer: B. The mayor of the Greek island of Santorini wants to cap the number of cruise ship passengers at 8,000 a day.
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5 Things PM is produced by CNN’s Tricia Escobedo, Meghan Pryce and Kimberly Richardson.

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