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.
A Greenwich, Connecticut-based hedge fund is behind the purchase of a block of 46 taxi medallions that were snapped up in a foreclosure auction this week.
The medallions - the metal plates on yellow cab hoods allowing them to legally pick up street-hails - have plunged in value since the arrival of Uber and other ride-sharing services in the city.
They once fetched as much as $1 million but were sold for $186,000 each at the auction, an industry source told Business Insider.
In other news, legendary investor Laszlo Birinyi - who hass nailed the bull market at every turn - shares the hidden secret of future stock gains. Traders are making huge bets that the Toys R Us bankruptcy will crush one of its main suppliers. And here's why Amazon is still such a threat to Toys R Us, in one chart. Meanwhile, Best Buy is the latest victim of the retail apocalypse.
144 years ago, the stock market shut down for the first time because of a panic - here's what happened.
In markets news:
- We're officially in the 2nd-largest bull market since World War II.
- One of the markets' hottest trades is riskier than ever.
- Michael Bloomberg, the former New York City mayor, says he "cannot for the life of me understand why the market keeps going up."
- Apple is slipping after disappointing reviews of the Apple Watch.
Republicans' last-ditch effort to repeal Obamacare is really all about tax cuts. Trump's attempt to rewrite NAFTA pushes a provision that is 'senseless - and unnecessary," according to Jeffrey Schott, senior fellow at the Peterson Institute for International Economics.
The Fed risks repeating a ghastly mistake it made right before the past 2 recessions.
And North Korea's biggest trading partner is China - and it's not even close.
Last but not least, the best time to look for a new job isn't when you hate your current one. It's when you love it.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market