What you need to know on Wall Street today
Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox.
It's crunch time for the latest Republican healthcare bill – and it doesn't look good. Republican lawmakers in the Senate are days away from perhaps a final deadline on repealing and replacing the Affordable Care Act, a seminal promise from the party for more than seven years.
Meanwhile, the newest version of the bill is already getting a slew of brutal reviews.
In Wall Street news, Steve Cohen took a big step in launching his massive new hedge fund, Business Insider reported late Friday. Cohen, the billionaire hedge-fund manager briefly banned from the industry after an insider-trading investigation, has sent investors documents pitching his new fund, a person who reviewed the deck told Business Insider. And the terms are steep.
In markets news:
- Stocks slide after North Korea accuses the US of declaring war
- An 'ominous' pattern in Amazon's chart could catch Wall Street off guard
- Facebook is falling amid controversies over Russian election influence and its share structure
- Bitcoin is popping
- GE is climbing after offloading its industrial unit for $2.6 billion
- GOLDMAN SACHS: The future of the bull market hinges on one key driver
- The maker of Botox has turned to the oldest trick in the book to save its cratering stock
Aldi is fixing a major weakness and coming straight for Whole Foods. China may make a key policy change that would be a huge win for Tesla.
Larry Summers says Treasury Secretary Steve "Mnuchin may be the greatest sycophant in Cabinet history."
Lastly, there's a tiny college outside Los Angeles where graduates out-earn Harvard and Stanford alums.
NOW WATCH: THE BOTTOM LINE: A lot of talk of a bitcoin bubble and a few good reasons to believe tech isn't one
No comments: