Welcome to Finance Insider, Business Insider’s summary of the top stories of the past 24 hours.
To find the hottest destination for stock traders, Americans must look overseas.
Investors poured roughly $US6 billion into European equities last week, the most in history, according to data compiled by Bank of America Merrill Lynch. More than three-quarters of that was absorbed by exchange-traded funds, which also saw record inflows.
In related news, some of the biggest names in investing love Indian stocks. Bigger paychecks for US workers could be bad news for stocks. And you can watch the latest episode of The Bottom Line, Business Insider’s weekly markets and economics show, right here.
Elsewhere in markets news, America’s biggest companies are obsessed with three themes right now, according to Goldman Sachs. And there are too many fund managers, according to the CEO of a $US385 billion fund.
There’s a massive series of cyberattacks across the globe right now — and leaked malware developed by the NSA seems to be to blame. Ransomware, software that encrypts the victim’s data and demands a ransom to unlock it, has spread across a dozen countries, from England to Japan.
It’s impossible to know how President Donald Trump truly feels about Fed Chair Janet Yellen because he has both bashed and praised her depending on his whim. However, it turns out that
Trump could fire Janet Yellen if he decided to so.
An email prankster successfully duped Barclays’ CEO into thinking the person was the bank’s chairman.
There’s a lot of news in the retail sector:
- JC Penney tanks after a big miss on sales
- JC Penney has hit an ugly milestone that no company wants
- UBS: Macy’s has reached a “sobering breakpoint”
- Nordstrom’s same-store sales miss
- CREDIT SUISSE: Nordstrom is “best-of-breed”
Elsewhere in company news, GE is making a huge bet on its future, and not everyone is convinced it’s going to work out. And there’s a huge amount of pressure on Snap’s latest initiative.
Lastly, here are the 17 best cities for first-time homebuyers.