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All you need is a working Twitter account to know that President Donald Trump tries to take credit every time the stock market hits a record high.
It’s a routine that has played out in 2017 as the S&P 500 has stretched well into the ninth year of a bull market that has brought it back to unprecedented highs. And Trump was back at it again Wednesday morning, with a series of tweets playing up his role in the stock market’s latest ascent to record levels.
So is Trump right? Business Insider’s Joe Ciolli graded his claims.
In Wall Street news, Balyasny, a $US12 billion hedge fund, is ramping up for earnings season — and it has a lot on the line.
A longtime exec at Bridgewater, the world’s largest hedge fund, is reportedly stepping down. Billionaire Steve Cohen has lost his top trader ahead of his supersize hedge fund launch. And BlackRock posted a 8.2% rise in quarterly profit.
Goldman Sachs made a big hire for a newly created role, and it hints at the future of the Wall Street giant. And the bank has created a “brain trust” to pitch mega deals to the likes of Warren Buffett.
Blackstone chief Steve Schwarzman was asked what the president is doing for women, and it got pretty awkward.
In economics, millennials are being “left behind,” and it poses a huge risk to the US economy.
In markets news and views:
- Kroger surges after announcing it may sell its convenience-store business
- CREDIT SUISSE: Facebook is making more money on targeted ads than ever amid Russian controversy
- CREDIT SUISSE: Advertisers are finally warming up to Snapchat
- RBC: Apple could be one of the “biggest beneficiaries” of Trump’s tax plan
- JEFFERIES: Google has “the right pieces in place to win the race” to a $US1 trillion valuation
- Legendary economist Gary Shilling explains how you can beat the market
- GOLDMAN SACHS: Here’s how to make a killing this earnings season
Lastly, go inside New York City’s most expensive rental, which will set you back $US500,000 a month.
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