What you need to know on Wall Street right now

Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours.

We're in to the final countdown before Election Day, and Business Insider has you covered with all the important stories. Here are the headlines:

• The final national polls show Hillary Clinton in position to win the election
• US stocks are spiking after declining nine days in a row
• The Mexican peso is soaring
• Wall Street is bracing for a wild Election Day
• Wall Street's biggest investors have their own expensive election polls that the public rarely sees
• Hedge fund manager David Tepper has come out in support of Hillary Clinton
• LORD TURNER: Donald Trump is "a racist, sexist, buffoon" and "a threat to world peace"

Here are the headlines on what the election results might mean for markets.

• Here's the possible market reaction to the 3 most likely US election outcomes
• GARY SHILLING: A President Trump may be negative for stocks, but great for these two assets
• Wall Street's biggest bull outlines 8 reasons markets will rip higher if Trump wins
• DEUTSCHE BANK: Here's what a Clinton or Trump victory means for European markets
• Here's what Donald Trump and Hillary Clinton would mean for the US economy
• What the election might mean for the Fed

Lastly, half of Americans probably won't vote tomorrow - but requiring them to would change that.

In finance news, HSBC profits are down 46%. One chart provides a grim outlook for Wall Street bonus season.

And Transcendental Meditation, which Bridgewater's Ray Dalio calls 'the single biggest influence' on his life, is taking over Wall Street.

In tech news, Tim Cook laid out the playbook for Apple's next big thing, and Oracle won its battle for NetSuite.

Everyone wants a piece of the drug industry and it's one reason prices are rising so fast.

The wealthiest Americans have a new attitude about home buying - and it has led to a crisis in the luxury market.

Lastly, check out the 16 most stylish guys on the planet

Here are the top Wall Street headlines at midday

LORD TURNER: "We may be at a turning point in the nature of capitalism" - Lord Adair Turner, the former vice chairman of Merrill Lynch Europe and ex-head of the Britain's financial watchdog, is "increasingly worried" that advances in technology are undermining capitalism and stopping the global economy recovering from its "post-crisis malaise."

The head of North American equities at a $400 billion investor talks stocks and the year ahead - Business Insider caught up with Ralph Bassett, the Head of North American Equities at Aberdeen Asset Management, to help make sense of the current state of the market and the outlook for the year ahead.

A chief EU Brexit negotiator told us why the deal Britain wants makes no sense - Just a few months ago, Guy Verhofstadt was a name that was most likely lost on any Brit who didn't boast an impressive knowledge of European politics.

The strains of a weak global economy are starting to show - The strains of a global economy mired in a low growth, low inflation and low interest rate regime are starting to show.

A baffling obsession with growth is distorting the US auto market - After booming for several years and setting sales record in 2015, as 17.5 million new cars and truck rolled off dealers lots, the US auto market now looks as if its flattening out.

China is eating through its FX reserves at the fastest rate since January - China's reserves dropped by $45.7 billion (£36.8 billion) last month to $3.121 trillion, according to data released by the People's Bank of China, hitting the lowest level since March 2011.

Ferrari's IPO now looks pretty smart, as the luxury carmaker posts strong 3rd-quarter earnings - Ferrari was spun off from its parent Fiat Chrysler Automobiles in a 2015 initial public offering and has been a car-industry success story in 2016, as other automakers have seen their shares languish.

Tesla is killing one of its biggest benefits for new customers - Tesla's extensive Supercharger network is one of the great benefits of being a Tesla owner, but after January 2017 it will no longer be free for new customers.

How to move to Canada and become a Canadian citizen - If the race between Hillary Clinton and Donald Trump has you feeling disillusioned with American democracy, you may find yourself imagining a move to Canada.