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What you need to know on Wall Street today

Finance Insider is Business Insider's midday summary of the top stories of the past 24 hours.

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Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours.

Donald Trump voters and Hillary Clinton voters are putting their money to work differently post-election.

We've noted that consumer confidence has become highly politicized, with Republicans extremely optimistic about the future of the economy and Democrats' confidence dropping off a cliff.

It appears that has also translated into differing spending habits for each political group.

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Fed's target for the first time in nearly five years. President scorecard on the economy could be ugly. And there's a simple reason why the Fed should stop raising interest rates, according to Business Insider's Pedro da Costa.

Elsewhere in economic news, Russia has finally returned to growth. And South Africa's president fired his respected finance minister — and now the rand is tumbling.

In tech news, Elon Musk is putting himself in an awkward position with Tesla's new vehicles. A key Apple supplier saw its profit explode. And Google's venture capital arm has backed a startup that is developing "biotech superglue."

The world's billionaires are flocking to Miami's luxurious Porsche Design Tower, where they can use an elevator for their cars. Here are the most underrated steaks in NYC. And here's the best Caribbean island for every type of traveler.

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THE $1,000 PHONE: The huge problem Apple must solve before it launches the new iPhone - Apple is gearing up to launch what may well be the most hotly anticipated smartphone ever.

Nordstrom is thriving amid a death spiral in brick-and-mortar retail - Nordstrom may be one of the only companies to survive the death spiral of traditional brick-and-mortar retailers.

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