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Markets

Right now, the market is witnessing a flurry of ambitious moves, with successes seeming to land effortlessly. The Dow has surged for the seventh consecutive day, and the S&P 500 has reached over 5,200 for the first time in a month, driven by broad gains across various stocks. This momentum might be attributed to indications that the slowing job market could prompt the Federal Reserve to consider a rate cut in the coming months.

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Finance

The Dow Is a Terrible Index. But It Is Telling Us Something Important.

The Dow Jones Industrial Average, often seen as a historical marker, is currently experiencing its most significant period of underperformance compared to the S&P 500 since the dot-com bubble and the high inflation era of the late 1970s and early 1980s. This poor showing might signal a pivotal moment for the markets.

In a way, it does mark a significant shift. The Dow comprises companies that were once considered titans, while the S&P reflects the current giants. During times of transition, these indices diverge as the S&P adjusts to include newer, flourishing companies while the Dow remains static.

This trend is precisely what we're witnessing. Take Nvidia, for example, which epitomizes this shift by capitalizing on the artificial intelligence wave to become the third-largest company in the S&P, with its stock skyrocketing over 200% in a year. Meanwhile, the Dow has lagged behind, still anchored by former stalwarts like Intel, whose shares have seen a slight decline over the same period.

Media

Hello from the other side of the world

The once-prominent Barack Obama-themed rest stop along Ireland’s M7 highway has been overshadowed by a groundbreaking development. This week, New York City and Dublin became linked by two massive portals resembling something straight out of a science fiction film, offering a continuous video connection between the two cities.

Placed strategically on Dublin’s iconic O’Connell Street and in New York’s bustling Flatiron district, these portals are the brainchild of Lithuanian artist Benediktas Gylys, aiming to foster global unity. Gylys's initiative, Portals.org, initially introduced similar sculptures in Vilnius, Lithuania, and Lublin, Poland, back in 2021. Plans are underway to extend this connection to include New York, Dublin, Vilnius, and Lublin.

Interestingly, the absence of sound in these portals serves a dual purpose: firstly, to acknowledge the linguistic barriers between New Yorkers and Dubliners, and secondly, to encourage the use of universally understood communication—body language—as explained on the Portals.org website.

However, the lack of sound hasn’t hindered connection in the slightest. Social media is abuzz with videos depicting individuals from both sides engaging in various activities, including waving, dancing, displaying their Instagram handles on signs, and even exchanging phone numbers.

Technology

Let AI date for you, says bumble founder

According to Bumble founder and executive chair Whitney Wolfe Herd, the future of human dating might involve AI bots awkwardly flirting with each other. She proposed this concept at Bloomberg’s tech conference, suggesting that AI dating "concierges" could interact to spare individuals the discomfort of enduring awkward conversations with incompatible strangers.

Wolfe Herd envisions these AI chatbots not only helping to narrow down potential matches but also offering dating advice based on users' insecurities. Her dead-serious comments elicited chuckles from the Bloomberg audience, highlighting Bumble's efforts to persuade singles that its matchmaking services remain valuable.

Bumble is actively incorporating features to make the quest for love on its platform feel less arduous:

• The upcoming "Opening Move" function will enable users to preselect direct messages to kickstart conversations, alleviating the pressure of coming up with clever opening lines.

• The app is expanding the range of relationship descriptions users can choose from, including more specific options like "life partner" and "ethical non-monogamy," and allowing users to display these preferences on their profiles.

These updates come at a time when growth in paid users for dating apps is slowing down. A 2023 Pew survey found that only 21% of Americans believe algorithms can accurately predict their romantic interests.

Interestingly, Gen Z seems to be losing interest in dating apps altogether. A recent Axios/Generation Labs survey revealed that nearly 4 out of 5 college and grad students are not using them.

Politics

Thousands protest Israel’s participation in Eurovision

Thursday's semifinals of the annual Eurovision song competition in Malmö, Sweden, were marred by the presence of numerous pro-Palestine demonstrators protesting Israel's involvement. Thousands took to the streets to express their objection to the participation of 20-year-old Israeli singer Eden Golan in the contest. Despite months of activism urging Eurovision to exclude Israel due to the conflict in Gaza, organizers have maintained their stance, asserting the competition's apolitical nature and focus on celebrating music.

Eden Golan has reportedly faced death threats and was subjected to booing from the audience during her performance. Notably, Eurovision barred Russia from participating in the competition following its invasion of Ukraine in 2022. With an annual viewership exceeding 150 million people, the contest continues to draw attention for its intersection of music and geopolitical issues.

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