What you need to know on Wall Street today
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Does Minneapolis Fed president Neel Kashkari have any dovish allies on the Fed's Open Market Committee who are skeptical of further interest-rate increases, or is he all alone in dissenting against more hikes this year?
That's the main question investors will be looking to answer as they rifle through minutes from the central bank's June meeting, due out Wednesday at 2 p.m. ET. Check back here for the latest from the Fed minutes.
In markets news, Worldpay shares dropped sharply after it agreed to a £9.1 billion deal with Vantiv. One of the market's hottest trades just had its biggest day yet. And Wall Street is at war with traders over the future of bank stocks.
In finance news, Deutsche Bank has made another big hire focused on dealmaking in the tech sector. The hedge fund famous for betting against the 'London Whale' is closing its London office. A new survey shows a lot of young Wall Streeters want out. And the world's oldest bank has a plan to leave the "emergency room" and return to profit.
Everyone is focusing on five things they can't control, according to Jefferies. A former banker who raked in $100 million for Morgan Stanley is fighting for his bonus check. And hedge fund titan Ken Griffin described the "incredibly humiliating" moment his firm nearly went under.
One of the world's biggest bitcoin exchanges has been hacked. Federal prosecutors asked a US judge for a gag order to muzzle Martin Shkreli. And Amazon and Google share prices were wrongly reported down more than 80% after test data went live.
Exxon got stuck in the middle as Russia-US relations broke down - and needs a solution soon.
It looks like demand for Teslas has peaked, according to Goldman Sachs. Tesla's stock price is down nearly 5% on the day.
Lastly, here's what it's like to spend July 4th in the most expensive vacation town in America.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- 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.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- Experts warn of rising temperatures in Bengaluru as Phase 2 of Lok Sabha elections draws near
- Axis Bank posts net profit of ₹7,129 cr in March quarter
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- 7 Things to do on your next trip to Rishikesh