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.


A couple of weeks ago, Goldman Sachs CEO Lloyd Blankfein, a Hillary Clinton supporter, was asked whether he wished he had backed Donald Trump.

"So, in hindsight, do you wish you had backed the other horse, then?" Joe Kernen of CNBC asked him in an interview at the World Economic Forum in Davos, Switzerland. "Or do you like more regulation and higher taxes?"

"But there's other things, there's other factors at work here, too," the Goldman Sachs CEO responded.

This weekend's events made that clear. The decision by Donald Trump to sign an executive order barring refugees from entering the US, led to outcry both in Washington and Silicon Valley.


Starbucks responded by committing to hiring 10,000 refugees over five years. Ford's CEO Mark Fields told Business Insider the company does "not support this policy." And thousands of people have protested at cities and airports around the country.

JPMorgan had to reach out to employees who might be impacted by the order over the weekend, and has set up a hotline for those who think they might be affected. Blankfein, who has been consistent in his concerns over Trump's presidency, sent a memo to staff vowing to minimize any disruption resulting from the order.

Mike Corbat, CEO of Citigroup, said "we are concerned about the message the executive order sends."

In other Trump related news:

In other news, Snap will list its shares on the NYSE, and its filing is expected this week. Walgreens and Rite Aid are cutting their deal price - and Rite Aid's stock is plunging.


Lastly, here are five things you didn't realize about Warren Buffett, according to his daughter.

Here are the top Wall Street headlines from the past 24 hours

A key figure in Paul Singer's epic Argentina trade has stepped down - A key portfolio manager behind Elliott Management's famous Argentina bet has stepped down.

Ex-Microsoft COO Kevin Turner is already out from his at Citadel - Kevin Turner who left the Microsoft COO position in July to become CEO of hedge fund Citadel Securities, is already out at Citadel, the company says.

A "visionary in global finance" had 2 simple ideas, and changed investing forever - In 1974, John C. Bogle founded Vanguard Group, which transformed investing forever with the index fund.


Short sellers are cleaning up in Fitbit - Shares of Fitbit are down 15.7% at $6.08 per share on Monday after the company announced preliminary fourth-quarter results that were well below its previous estimate, in addition to slashing its guidance for the crucial holiday quarter.

Nike turned into a luxury brand when no one was looking - For anyone who has recently bought Nike shoes or apparel, or walked into one of its latest stores, this won't be news: Nike has slid upscale recently.

The maker of Tempur-Pedic mattresses is crashing by more than 25% - Tempur Sealy, the maker of Tempur-Pedic mattresses and other bedding products, is tanking on Monday after failing to reach a deal with a key retailer.

Here's how you should invest your money for retirement, according to the founder of a $3.9 trillion fund giant - The man who transformed investing for Main Street has some advice for how to save for your retirement - focus on the big picture.

One of American, Delta, and United's most feared rivals may be in trouble - Since its founding in 2003, Etihad Airways has managed to storm its way to the forefront of the airline industry.