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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The Federal Reserve is expected to raise its benchmark interest rate again on Wednesday. Here's what you need to know:

Elsewhere in D.C. news, Republicans have a final deal on their tax bill - here's what's in it. And there's one more reason for Republicans to be very nervous about the Senate in 2018, according to Josh Barro.

Back on Wall Street, a top exec at trading giant Virtu is out. The mysterious trader known as "50 Cent" has lost $197 million betting on a stock market meltdown. Robinhood is launching a free options trading product for its users.

And here's what it takes to launch a hedge fund right now, according to the Wall Street pros who know

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In markets news, the ghosts of the financial crisis are costing investors a fortune. A wildly popular stock market strategy is hotter than ever.

In deal news, Target has a new $550 million weapon to defeat Walmart and Amazon, and Saudi Aramco has reportedly asked banks to pitch for a role in its IPO.

And in tech news:

Lastly, we drove a $73,000 Cadillac XTS V-Sport and completely fell for its retro charm and secret power.