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What you need to know on Wall Street today
Hello. Here's what you need to know on Wall Street today.
Donald Trump speaks in Warsaw on Thursday.
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It's a sea of red on Thursday, with stock and bond markets around the world taking losses amid mounting investor uncertainty.
US stocks saw weakness across the board after the release of economic data that was weaker than expected.Private payrolls rose less than expected while job creation in May was revised downward. In addition,initial jobless claims unexpectedly jumped, adding to an increasingly murky US economic picture.
TheS&P 500he tech-heavyNasdaq Compositeindex also fell, with the FAANG stocks taking a hit. Tesla also dropped sharply. US Treasuries also got in on the selling action as yields climbed more than six basis points to 2.39%, bringing their increase to 25 basis points over the past eight days.
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Earlier in the day, President Trump said at an event in Poland that everyone is "getting rich" from the stock market except him. In related news, Trump's dealings in the Middle East have put one of his key allies in a potentially awkward position. And the Atlantic City casino Trump built for $1.2 billion is having a liquidation sale — here's everything up for grabs.
he Fed is losing confidence in a key part of its policy, according to Business Insider's Pedro da Costa.
The two most popular ways to track theUS jobs market are telling wildly different stories.
In deal news, Qatar Airways hopes to start scooping up American Airlines shares soon. And here are eight companies Warren Buffett's Berkshire Hathaway could buy next, according to
Betterment "could become the Amazon of financial services," according to its CEO. Goldman Sachs is working on an iPhone app for the masses. And tnow their startup is worth $1.3 billion
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Here's how to make money in the most boring market in years, according to Goldman Sachs. Wall Street is boldly ignoring stock market history. And an insurance giant is shifting $130 billion into ethical investments.
Amazon could rake in $1 billion in 30 hours. Blue Apron is getting crushed a week after its IPO. And Tesla's Model 3 launch will be as big as the introduction of the iPhone, according to Gene Munster.
A painkiller at the heart of a opioid epidemic has been taken off the market. A type of drug used by 50 million Americans has been linked to an increased risk of death. And millions of people are living with a "silent" disease they've likely never heard of.
Lastly, there's a simple calculation to determine how much you need to have saved before you can retire.
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