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.

If you spend any time on Twitter and follow any media industry people, you’ll often come away dizzy, and fairly certain that every media company is trying to buy every other media company.

It started a year ago when AT&T announced it had reached an agreement to buy Time Warner. Then things really turned upside down when 21st Century Fox — just three years after trying to buy Time Warner — signalled it wanted to sell some assets to Disney.

Then on Thursday, it was reported that Comcast might buy some of Fox. Or Verizon might. And of course, President Trump might not allow AT&T to buy Time Warner. The FCC is potentially loosening media ownership rules. Net Neutrality might go away.

Confused yet? Here’s our guide to the Game of Thrones-esque battle for power in the media industry.

Also in deal news, real estate M&A has eclipsed the record level set on the eve of the financial crisis — and it has to do with the retail apocalypse. Caesars is buying casino and horse racing company Centaur for $US1.7 billion. Stitch Fix spiked more than 17% after IPO. And a Danish energy company just issued debt with a maturity date of 3017.

Credit Suisse just hired two top research analysts away from UBS, and it establishes a clear trend. Bitcoin trading shops are hiring Wall Streeters to build out the “next generation” of cryptocurrency trading. And Goldman Sachs wants to help improve your “financial wellness.”

In markets news, a $US423 billion investor explained why tech stocks are defying a warning sign. Walmart is making a mockery of the retail apocalypse — and traders are betting it will keep soaring.

In D.C. news, while President Trump claims the tax bill would lead to a huge boost for business spending and hiring, executives aren’t so sure. And the Republican tax bill contains a sneaky break for private jet owners.

Tesla unveiled its electric big-rig truck on Thursday evening, and also surprised with the unveiling of a new Roadster. Here’s what you need to know:

Lastly, Tiffany is selling everyday objects for eye-popping amounts of money — here are the craziest ones you can buy.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.