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.

Retail bank branches remain stubbornly relevant, despite an onslaught of digital and tech innovations.

But bank tellers’ days in those branches could be numbered.

The largest banks in the US have been investing millions in updating the capabilities and physical appearances of their thousands of ATMs — an invention that turns 50 years old this month.

Morgan Stanley is turning to text messages to keep in touch with wealthy clients.

The tech stock “fairy tale” is heading for a bad ending. Traders haven’t been this nervous about tech stocks in 14 years. Traders are loading up on bets against Apple. But there’s one big difference between now and the 1999 tech bubble.

Bond investor Bill Gross warned on Tuesday that investors should reduce their risk appetite. Bitcoin is looking “heavy,” according to Goldman Sachs. And Elizabeth Warren just threw down on a Wall Street battleground stock.

Trump’s Treasury Secretary said “talking about impeaching the president is the biggest waste of time.” And Janet Yellen will have a harder time than usual justifying Fed policy at this week’s press conference.

Thomson Reuters is partnering with the “Slack for Wall Street.” A $US16 billion hedge fund CIO explained what it takes to work at a hedge fund today. There are three things that Citi’s EMEA investment banking chief will always make time for in his job.

An investment banker has been killed in the first fatality for New York City’s popular bike-share program.

Verizon has closed its $US4.48 billion acquisition of Yahoo, and Marissa Mayer is stepping down with $US23 million. Read her farewell letter to employees. And Apple is borrowing $US1 billion to fight climate change.

Sears Canada says it’s running out of cash and revealed there’s “significant doubt” it can stay in business.

States are starting to stand up to “the new Big Tobacco” because Washington won’t. And investors are being told to go scorched earth on the company that makes EpiPen.

Tesla might soon have a “near-monopolistic” hold on the electric vehicle market. Apple has made a potentially disastrous pivot on self-driving cars, according to Business Insider’s Matt DeBord. And the “Tesla of buses” raised $US55 million from Al Gore’s investment arm as it eyes an IPO.

Lastly, here are 28 photos of ripped Wall Streeters testing their physical limits at the most intense competition out there.

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