What you need to know on Wall Street today
Carlos Barria/Reuters
The House passed the Senate's budget resolution on Thursday by a vote of 216 to 212, in the last procedural step before the GOP can move to fast track tax reform legislation that is expected to be unveiled next week. Here's what you need to know.
In related news, Gary Cohn is reportedly set to leave the White House as soon as tax reform is done. He's also reportedly out of the running for Fed Chair - here are the remaining candidates. President Donald Trump appeared to solicit suggestions for the position during an interview with Fox Business host Lou Dobbs on Wednesday.
He also contradicted his own tweet, saying 401(k)s could now be up for negotiation.
The European Central Bank on Thursday announced that it will further taper its bond-buying programme but extended quantitative easing until at least September 2018, as had been widely forecast prior to the decision.
In trading news, CBOE, the largest options exchange in the US, is moving in on a $1.6 billion bitcoin opportunity.
In markets news, David Einhorn just started one of the most important conversations we can have in a bubble, according to Business Insider's Linette Lopez. Deutsche Bank asked: "Has the music stopped playing?"
We spoke to Sharon French, head of beta solutions at OppenheimerFunds, about smart beta and the most pressing issues facing markets today.
The world's billionaires are now worth $6 trillion - but succession is a big problem. The richest families in America are pouring money into healthcare startups.
In markets news and views:
- The stock market just showed that its biggest fear is overblown
- Tech stocks took a hit heading into a crucial stretch of earnings - but traders are still betting on blockbuster results
- Traders betting against Chipotle made $260 million in a single day on its earnings disaster
- Traders were blindsided by Celgene's massive earnings flop
- Nike is going through a "massive transformation" to keep pace with the competition
Lastly, here are the 14 countries with the most billionaires.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- FSSAI in process of collecting pan-India samples of Nestle's Cerelac baby cereals: CEO
- Private Equity Investments
- Having an regional accent can be bad for your interviews, especially an Indian one: study
- Dirty laundry? Major clothing companies like Zara and H&M under scrutiny for allegedly fuelling deforestation in Brazil
- 5 Best places to visit near Darjeeling
- Climate change could become main driver of biodiversity decline by mid-century: Study
- 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