Welcome to Finance Insider, Business Insider’s summary of the top stories of the past 24 hours.
Snapchat continues to surge a day after its blockbuster IPO. Here are the headlines:
- “Right now we’re just celebrating”: Inside Snap’s crazy $US33 billion IPO
- NBC made over $US200 million from Snapchat in a single day
- Investors in Snap’s IPO “have effectively just done what no self-respecting person ever should”
- Snap is now bigger than these 17 household names
- Here’s how long it takes on average for a hot IPO to crash
In other news, a startup led by one of the most senior women on Wall Street decided to troll President Trump.
The Fed could be on the verge of making a big mistake, according to Business Insider’s Pedro da Costa.
The Mexican peso jumped after US Commerce Secretary Wilbur Ross argued in an interview that the currency would recover should the US and Mexico manage to renegotiate and improve a trade deal.
The S&P 500 hasn’t gone this long without a 1.5% drop since 1964. And as the Trump rally rolls on, people up and down Wall Street and around the world keep finding reasons for why it should continue, according to Business Insider’s Linette Lopez.
The CEO of the world’s biggest ad company says Amazon — not his 3-month-old daughter — is what keeps him up worrying at night.
Lastly, here are 24 hot cars we can’t wait to see at the 2017 Geneva Motor Show.
Here are the top Wall Street headlines from the past 24 hours.
London fintech Algomi landed a $US10 million investment from exchange giant Euronext – European exchange operator Euronext has invested $US10 million (£8.1 million) in London fintech startup Algomi.
The largest contributor to US economic growth just had its strongest month in nearly a year – The US services sector, which makes up the largest part of the overall economy, was stronger than expected in February, according to the Institute of Supply Management.
Tesla stock keeps getting hammered – After an epic rally that saw Tesla shares rise 50% in two months, shares of the carmaker have come back down to earth.
Costco same-store sales miss as price war heats up – The warehouse club retailer Costco Wholesale Corp. reported lower-than-expected quarterly comparable-store sales and profit as big grocery chains competed fiercely to attract customers with lower prices.
Abercrombie can’t stop talking about its Hollister brand – Abercrombie can’t stop talking about its Hollister brand. The company’s executives mentioned it 22 times during its fourth quarter earnings call.
Hhgregg is closing 88 stores that aren’t profitable due to the collapse of physical retail – Electronics and furniture retailer Hhgregg is closing 88 underperforming stores in response to the slowdown affecting the brick-and-mortar retail industry. About 1,500 jobs will be affected.
Here are the two important things Warren Buffett did not say in his annual letter – In the last few days, some of the greatest minds in business journalism have scoured Warren Buffett’s annual letter to harvest wisdom.
14 photos of the most beautiful and remote places on earth – Sometimes it’s worth going far off the beaten path. Photo-sharing app EyeEm recently hosted a contest asking their members to submit shots from their most interesting travel experiences.
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