Happy New Year! Wall Street is back to work after a quiet holiday season, and there's no shortage of news.
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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.
Donald Trump
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Ford has spiked plans for a $1.6 billion Mexico plant — and says it'll undertake a massive electric-car expansion instead. That news sent the Mexican peso sliding.
In related news, Larry Summers lambasted a policy paper from top Trump advisers, describing it as the "economic equivalent of creationism." A, according to Pedro da Costa of the Peterson Institute for International Economics.
In hedge fund news, Ray Dalio slammed a Wall Street Journal story on Bridgewater, linking it to the "fake and distorted news epidemic." A 27-year old raised $10 million from venture capitalists for an unusual hedge fund.
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And this is what it's like to be something other than white and male in the hedge fund business.
In deal news, a startup trying to get the human body to fight cancer just filed for an IPO. These tech startups are IPO candidates to watch in 2017. Nasdaq is the best stock exchange to list on
hese are the top trends in trading to watch in 2017, according to Kevin McPartland at Greenwich Associates.
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A core part of the American dream has changed, and it helps explain why Trump won—President-elect Trump's election victory shocked the world, as he defied the odds (and the polls) to come out on top.
Tesla faces 3 major tests in 2017 — and it has to pass them all—The title of this story is a bit misleading — Tesla faces far more than just three major tests in 2017. But some major tests are more major than others.
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The 2 big investing tips for 2017 from a JPMorgan strategy chief The chief global strategist at JPMorgan Asset Management has given clients two key tips on how to invest in 2017 — and they are pretty simple.
The ECB admits people in Europe are getting poorer—Europe became poorer and more unequal in the last few years, according to a massive household survey conducted by the European Central Bank.
THE $10 BILLION CLUB: Meet the 8 most valuable startups in the US—Over the past several years, we've seen a rise in private companies valued at over a billion dollars — the "unicorns."
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