Wall Street Today: A record number of Americans used dating apps in July

Moomoo Recap US joined discussion · Aug 3, 2021 19:37

Wall Street Today: A record number of Americans used dating apps in July

Asia stocks open steady as virus, China weigh

Asian stocks were off to a cautious start Wednesday as China’s clampdown on its technology giants and the spread of the delta Covid-19 strain subdue sentiment. Crude oil retreated.

Benchmarks edged lower in Japan, were SoftBank Group Corp. declined after a potential block of its $40 billion sale of Arm Ltd. to chip company Nvidia Corp. Equities were modestly higher in Australia and South Korea. U.S. equity contracts dipped. Overnight, corporate earnings took the S&P 500 to another record close.

U.K. considers blocking Nvidia takeover of Arm over security

The U.K. is considering blocking a takeover of Arm Ltd. by $NVIDIA(NVDA.US)$ due to potential risks to national security, according to people familiar with the discussions.

No final decision has been taken, and the U.K. could still approve the deal alongside certain conditions, the people added. Dowden is set to decide on whether the merger needs further examination by the U.K.’s competition authorities.

Crypto "Wild West" needs stronger investor protection, SEC Chief says

The Securities and Exchange Commission will regulate cryptocurrency markets to the maximum extent possible using its existing authority, Chairman Gary Gensler said Tuesday, while also calling on Congress to grant the agency more scope and resources to oversee the sector.

Calling the asset class rife with “fraud, scams and abuse,” Mr. Gensler signaled the SEC is likely to become more active in policing crypto trading and lending platforms, as well as so-called stablecoins.

Lyft reaches earnings milestone as demand recovers

$Lyft Inc(LYFT.US)$ achieved a measure of profitability a quarter earlier than expected, marking a surprising comeback after the pandemic initially crushed demand for its ride-share service and later left it dealing with driver shortages.

Apple, Affirm to join on Buy Now, Pay Later for Canadian purchases

$Apple(AAPL.US)$ and $Affirm Holdings(AFRM.US)$'s PayBright are planning to launch a “buy now, pay later” program for Apple device purchases in Canada, stepping up the iPhone maker’s ambitions to offer more financial services.

Square’s Afterpay acquisition proves Jamie Dimon is right to fear ‘increasingly smaller role’ of Wall Street

On Sunday, $Block(SQ.US)$ announced plans to buy Australian fintech company Afterpay, which lets customers pay in four interest-free installments and pay a fee if they miss an automated payment.

Last year companies in the BNPL (or “buy now, pay later”) space facilitated upwards of $20 billion in U.S. transactions, and some have concluded that the growing appeal of BNPL is generational.

In tandem, payment companies have increased their push into traditional banking over recent years, which investors have rewarded with further share gains.

Alibaba’s growth slows as China pushes tech regulation

Chinese ecommerce group $Alibaba(BABA.US)$ reported slowing growth in the second quarter, missing analyst expectations as its core online sales business faltered in the face of competition from Pinduoduo and JD.com.

A record number of Americans used dating apps in July

A lot of other singles went looking, too. The lifting of health restrictions in many parts of the U.S. this summer -- now likely a fleeting change -- created a big moment for online dating.

Engagement on dating apps in the U.S. reached a record high in July. Daily active users on the most popular dating apps, including ’s Tinder and ’s women-driven app, topped 15 million users, according to research firm Apptopia, which began collecting data in 2015.

Source: Bloomberg, Dow Jones, CNBC, Financial Times

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