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.

The Republican effort to overhaul the US healthcare system faces its biggest test yet Thursday as members of the House of Representatives are expected to vote on the American Health Care Act.

“Trump trades” would be jeopardized if the healthcare vote fails, according to DoubleLine Capital chief Jeff Gundlach. This view was echoed by Byron Wien,
vice chairman of Blackstone Advisory Partners.

You can keep up to date with the latest on the AHCA here.

Eton Park, one of the biggest hedge fund launches of all time, is shutting down.

“A combination of industry headwinds, a difficult market environment and, importantly, our own disappointing 2016 results have challenged our ability to continue to maintain the scale and scope we believe necessary to pursue our investment program consistent with our founding principles,” founder Eric Mindich said in a letter to clients.

A $US1.4 billion hedge fund expects a new wave of tech M&A, particularly in software, as new kinds of buyers come to the fore.
“We believe that we are now in the early part of a major M&A wave that will be more intense than any period in the past,” Praesidium’s Kevin Oram and Peter Uddo said in a note to clients.

And Bridgewater, the world’s largest hedge fund, published a 61-page paper on populism that says the movement is at its highest level since the eve of WWII.

Here’s how much money Wall Street banks have made advising on deals so far this year.

These exquisite quilts illustrate the importance of diversification in investing. Here are OPEC’s 7 “agents of influence” you need to pay attention to. And here’s how to avoid land mines in fixed income, according to Legg Mason.

The US economy is sounding an alarm that everyone is ignoring. And t
here’s a gaping hole in the rationale for Trump’s border wall, according to Business Insider’s Pedro da Costa.

The Tesla Model 3 could be the safest car on the road — and that’s bad news for every other automaker. Apple just bought the app it once crowned “most innovative” and made it free for everyone. And Emirates just used Jennifer Aniston to take a shot at the US laptop ban that’s turning into a huge headache.

Rolex unveiled a new watch that’s shinier than anything we’ve seen from the brand before. And lastly, these are the watches worn by the most powerful CEOs in the world.

Here are the top Wall Street headlines from the past 24 hours.

Credit Suisse considers stock sale instead of Swiss unit IPO – Credit Suisse is considering an accelerated bookbuilding to raise capital instead of selling a minority stake in its Swiss banking division.

FUND MANAGER: Trump’s take on Reaganomics won’t work in America — here’s where it will – In October 2015, James Litinsky, the founder of hedge fund JHL Capital proclaimed that the age of giant (and growing), over-leveraged companies was over. He was talking about companies like Valeant Pharmaceuticals, and — as we now know — he was very right.

Whole Foods is losing at its own game – It wasn’t too long ago that John Mackey was considered a pioneer.

Sears has a bigger problem than plunging sales — but nobody’s talking about itSears has a bigger problem than plunging sales: dwindling inventory.

The best airline in America will disappear forever in 2019 – It’s official, Virgin America’s days are numbered.

Nike’s business is “going to get darker before the dawn”Nike is facing a scary time in its history.

Ford’s guidance disappoints – Shares of Ford Motor are down 1.5% at $US11.59 Thursday morning, after the company released disappointing earnings guidance for the first quarter.

The real reason we talk about NAFTA so much – Donald Trump and Bernie Sanders, who both used NAFTA as a favourite target during their presidential campaigns, will tell you it was a “disaster” for the US economy, and that it cost the US hundreds of thousands of jobs.

The best restaurants in the Hudson Valley, New Yorkers’ new favourite getaway spot – NYC may get the majority of New York state’s culinary cred, but you’re doing yourself a major disservice if you sleep on the Catskills and Hudson Valley.

Five new dress shoe companies every guy should know – Finding the right dress shoes for your needs isn’t always an easy task.

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