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.
The US Federal Reserve is widely expected to raise its benchmark interest rate to a target of 0.75% to 1% on Wednesday. Here's what you need to know:
- Here's how the Fed raises interest rates
- The Fed's 3rd rate hike could be bad for stocks
- It's time to start paying attention to one of the Fed's most controversial charts
- Janet Yellen seems to be giving up on one of the Fed's most important goals
- Consumer prices climb at their fastest pace in five years
- Check back for the latest on the Federal Reserve decision here
On Wall Street, the average bonus paid out to New York City securities industry employees in 2016 was $138,210 , according to a statement from the New York State Comptroller Thomas DiNapoli. In related news, here are the eight hedge fund managers who made the most money in 2016 .
Two Wall Street analysts came up with a game to make "fun of the system," and played it for five years without anyone knowing . Stocks just did something they haven't done since 1995 .
Trump adviser Steve Bannon attributes his worldview to a
simple stock-investing mistake his dad made after listening to Jim Cramer
And the number of Americans who have stopped paying their car loans appears to be increasing - a development that has the potential to send ripple effects through the US economy .
In the pharma industry, a new bill introduced Wednesday by Senator Ron Wyden wants to shed some light on the one of the drug industry's biggest middlemen . And in retail, Kmart president and chief member officer Alasdair James has left the company , Business Insider has learned.
In tech, t wo members of a Russian intelligence agency " protected, directed, facilitated, and paid" hackers to break into Yahoo's systems in 2014 , compromising 500 million user accounts, the Department of Justice said in an indictment Wednesday .
And e arly Twitter investor Chris Sacca, who once said he'd defend the company like one of his children, now "hates" the stock .
The marijuana industry's first unicorn is being added to an influential stock index . Here's a look inside the $1 billion firm that operates out of a once-abandoned Hershey's factory .
Lastly, here's what renting a one-bedroom apartment in 30 popular cities really costs .
The timing could be right for the makers of Monopoly and Barbie to do a deal - The time could be right for a combination of toy makers Hasbro and Mattel. Hasbro makes products like Monopoly, My Little Pony, and Nerf while Mattel makes toys like Barbie and Hot Wheels.
The peso is soaring after Trump's trade adviser says he sees Mexico as part of a North American "powerhouse" - The Mexican peso is soaring after President Donald Trump's trade adviser, Peter Navarro, said the US sees Mexico as part of a regional "powerhouse."
The first female Big Pharma CEO will be paid 25% less than her male predecessor - Incoming GlaxoSmithKline Chief Executive Emma Walmsley, the first woman to lead a top global drugmaker, will get a pay package worth a quarter less than her predecessor, following a company rethink on remuneration.
JEFFERIES: 4 reasons Tiffany will continue to shine - Shares of Tiffany & Co., the American luxury jewelry retailer, could rise further as the company's margins and earnings improve, according to Jefferies.
The world's biggest investors are freaking out about 2 things right now - JPMorgan just published highlights from its Global Markets Conference in Paris.
American Airlines is challenging Delta by bringing back free meals - American Airlines announced Wednesday that it will be bringing back free meals on select flights.
The 20 best business schools in America - An MBA from a top business school can set you up for a lucrative, successful career. In fact, average graduates of a top-20 program earn starting compensation packages of at least $130,000.