What you need to know on Wall Street today

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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.

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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.

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144 years ago, the stock market shut down for the first time because of a panic - here's what happened.

In markets news:

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.

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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.