What you need to know on Wall Street today
AP
Wall Street is back in action today after a quiet week due to Thanksgiving.
The big news of the day is the International Monetary Fund officially designating the Chinese yuan a global reserve currency. In Brazil meanwhile, investment bank BTG Pactual has named a new leadership team following the arrest of its former chief executive, and it may need to be rescued by a buyer.
There are also reports that Morgan Stanley is about to launch a brutal round of job cuts in its fixed-income business.
Here are the top Wall Street headlines at midday -
It's unfortunate what happens to ETFs right after you're able to invest in them - People love exchange-traded funds, commonly known as ETFs.
HSBC reduced your entire life to one line on a chart - HSBC global economist James Pomeroy divides your entire life into just five economically relevant periods.
One of the hottest gift items this Christmas just got a huge endorsement from Wall Street - Wearables are one of the hottest gift categories this Christmas.
The commodities bloodbath of 2015 in one chart - "Unfortunately for commodities, there's no waking up from this nightmare."
A star Silicon Valley entrepreneur explains how bitcoin is going to change the world - "[There's] more people in the world who need a currency they can trust than the opposite."
A critical shift is taking place in China ? and it could have brutal consequences - China is beginning to "talk the walk."
Former Goldman programmer accused of insider trading says 'there is a lot of misunderstanding' - Yue Han said in a message that "there is a lot of misunderstanding and what they sued against me is not true."
A booming Wall Street business is about to be tested for the first time - The marketplace-lending business has boomed in the post-financial-crisis era, with loan volumes swelling and the leading companies going public.
It is getting worse in Houston - A severe slowdown could be on its way to Houston.
SALLIE KRAWCHECK: The economy is changing so fast that no one is safe - The economy is moving so quickly now that delivering great results doesn't guarantee a job.
Elsewhere on the web -
JPMorgan Leaves Bonus Pool for Traders, Bankers Unchanged - Bloomberg
A Wealthy Governor and His Friends Are Remaking Illinois - The New York Times
Forget Going Public, U.S. Companies Want to Get Bought - The Wall Street Journal
BATS Global Markets plans 2016 IPO - The Wall Street Journal
- Global stocks rally even as Sensex, Nifty fall sharply on Friday
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study