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.

Snapchat’s parent company, Snap Inc., said in a filing Thursday that it was seeking an initial public offering valuation off up to $US22 billion.

Snap’s two co-founders will sell up to $US512 million in stock when their company goes public. These early Facebook and Twitter investors think Snapchat is on track for $US14.8B in revenue by 2027.

The Canadian luxury apparel company Canada Goose has also filed
for an initial public offering. Here’s how a 60-year-old Canadian sportswear manufacturer convinced regular people to wear $US900 arctic parkas.

On Wall Street, we sat down with Andrea Orcel, the head of UBS’ investment bank, to talk Trump, uncertainty and challenging trading conditions.

A little-known startup that has quietly amassed 100,000 Wall Street users just scored a big investment.

In markets news, President Donald Trump used Twitter on Thursday morning to praise the recent stock rally. Warnings signs are piling up that the bull run in stocks is nearing an end. And managers at a $US1 trillion asset manager say investors are dangerously underplaying three things.

Janet Yellen’s warning about low rates causing a recession doesn’t make sense, according to Business Insider’s Pedro da Costa.

Trump’s fast-food CEO pick for labour secretary dropped out of the running on Wednesday after attacks from left and right. The President is now set to name an ex-George W. Bush official to the role.

Lastly, here are the 27 best new restaurants in America.

Here are the top Wall Street headlines from the past 24 hour

A $US14 billion hedge fund is venturing where others fear to tread – Canyon Capital Advisors, a $US14 billion Los Angeles-based investment firm set up Joshua Friedman and Mitchell Julis, sees a fresh money-making opportunity betting on corporate takeovers.

The US dollar is becoming a problem – The US dollar has been getting stronger, but at what point is it just too much for the market to bear?

Kate Spade is exploring ways to sell itself — and the stock is soaring – Kate Spade is up 11.18% at $US21.87 a share as the company said it is “reviewing strategic alternatives,” in a press release issued on Thursday.

The FDA just approved Valeant’s psoriasis drug — but there’s a major catch – The US Food and Drug Administration on Wednesday approved Valeant Pharmaceuticals’ Siliq to treat adults with moderate-to-severe plaque psoriasis.

Goldman Sachs climbs to a record high – Shares of Goldman Sachs ticked to an all-time high on Wednesday, gaining 0.5% to $US250.67 per share. The session not only marked Goldman’s second straight close in record territory but saw shares eclipse the October 2007 all-time high of $US250.70 per share.

A breakthrough approach to treating Alzheimer’s is facing major setbacks – It’s been a hard few months for promising Alzheimer’s clinical trials.

GREENSPAN: The US cannot afford to spend on infrastructure like it wants to because it’s not on the gold standard Former Federal Reserve Chairman Alan Greenspan has again defended the gold standard monetary system that the US dropped in the 1930s.

Elon Musk accidentally tweeted Trump’s “immigration ban is not right” — then deleted it – Tesla CEO Elon Musk publicly disavowed President Donald Trump’s immigration ban on Twitter Wednesday — and promptly deleted the tweets seconds later.

Lamborghini’s Urus SUV will be a major game-changer for the company – The COO of Lamborghini makes no bones about what an SUV will mean for the exotic Italian automaker.

Take a look inside 10 of the most luxurious superyachts on sale at Miami’s premier yacht show – One of Miami’s biggest yacht shows is about to kick off.

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