💬 Quoted… “Human beings don’t make the best decisions at two o’clock in the morning. It’s clear as day – credit delinquencies spike right around 2 am.”

• People who shop between midnight and 4 am are often making riskier financial decisions and are more likely to default on loans, Michael Linford, CFO of buy-now, pay-later company Affirm, told CNBC in a recent interview – which should come as no surprise to anyone who’s ever drunk-purchased an impromptu flight to Europe after getting home from closing down the bar. But, while the data clearly shows these late-night financial decisions are riskier, the reasons why aren’t as clear. Experts posit that shoppers could be inebriated, or under financial or emotional duress and desperately seeking credit.

💪📈 Stat of the Day: The combined market cap of the so-called “Magnificent 7” companies – Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla – would make it the second-largest country stock exchange in the world, according to a new report from Deutsche Bank. These seven companies were responsible for a large portion of the S&P 500’s gains last year, and this level of concentration has led some analysts to voice concerns over related risks in the US and global stock market. It’s also given us an idea for the next off-the-wall Hollywood remake: A (Magnificent) League of Their Own. (To all the studio execs reading this – you’re welcome.)

🤔 Did You Know?... Nearly all influencers on social media (97%) promote products/services under commercial agreements (ex: sponsored posts). But, according to a new study by the European Union, only 20% of influencers systematically indicate that their commercial posts are ads – something that’s required under EU law. Be vigilant out there, folks🫡.

📰 Worth a Read: How a financial advice columnist got scammed out of $50K → (The Cut)