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.

The US economy grew faster than expected in the third quarter even after hurricanes disrupted activity in some parts of the country. The Commerce Department on Friday said gross domestic product, the measure of all goods and services produced, increased by 3%.

But the US economy isn’t quite as strong as it looks, according to Business Insider’s Pedro da Costa. And Americans are already showing signs of maxing out on debt.

In deal news, CVS Health, the retail pharmacy giant, is in talks to purchase Aetna, one of the five large publicly traded health-insurance companies, according to The Wall Street Journal. The Wall Street analysts who called the potential deal last month explained why it could “realign” the entire industry.

News of the deal emerged shortly after it was reported that Amazon has been approved for wholesale pharmacy licenses for at least 12 states. Traders betting that drugstores will get Amazon’d have made almost $US1 billion.

In investing news:

And in earnings news:

Lastly, these are the top nine investment bank internships.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

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