What you need to know on Wall Street right now

Finance Insider is Business Insider’s summary of the top stories of the past 24 hours.

The stock market has bounced back after the UK’s shock decision to leave Europe. Does that mean risk-taking is back? Nope.

Big-time traders are back in the market during the day, but they’re also avoiding what is called overnight risk.

That means that traders are frenetically reducing their positions right before the market closes.

Microsoft exec Kevin Turner is making a surprise move to Wall Street, and it highlights how trading is changing. Here’s the email Microsoft CEO Satya Nadella sent employees announcing a reorg following his departure.

Danone is buying WhiteWave — the maker of Silk soy milk — for $10 billion, and this $10 billion drug maker is the hottest thing in the industry.

Goldman Sachs board member Bill George has slammed Elon Musk’s handling of an autopilot death. Bridgewater Associates, the world’s largest hedge fund firm, is seeing huge swings in performance.

Here’s JPMorgan’s enormous guide to stocks, the federal debt, GDP, and everything else you need to know in markets right now.

Finally, an Airbnb owner plans to sue a hedge funder after 1000 party guests allegedly trashed a $20 million Hamptons mansion.

Here’s the best of the rest in Wall Street headlines today:

Property fund suspensions are on the cusp of triggering the next financial crisis — Seven investment firms suspended trading in their property funds this week, freezing £15 billion ($19.4 billion) of assets since Monday, out of a total of £24 billion sunk into UK open-end real estate funds.

An overlooked pharmaceutical stock could be about to explode There has been a lot going on in the markets of late, and investors could be forgiven for forgetting about the continuing shakeup in pharmaceuticals.

Andrew Caspersen pleads guilty to defrauding investors of more than $38 million Andrew Caspersen, the former Wall Street “scion” accused of defrauding his friends, college classmates, and even his mother, has pleaded guilty to defrauding investors.

The oil crash has people worried about a new banking crisis — Nigeria just put its banking system on alert.

Citi’s ‘Bear Market Checklist’ says the coast is clear to ‘buy the dip’ — The stock market is going nowhere fast, according to Citi.

‘This is the chart to rule them all’ That’s according to Grant Williams, co-founder of Real Vision TV and portfolio and strategy advisor to Vulpes Investment Management in Singapore.

Why studying Warren Buffett is like reading CliffsNotes — If you’re short on time but big on learning from investment greats, here’s a trick: Read Warren Buffett for the CliffsNotes version of great investment advice.

GOLDMAN: Stay away from these 17 stocks because they’re about to fall off a cliff — Goldman Sachs released a list of stocks with the greatest downside compared to their target prices.

Take a look at the intense invitation only fitness program run by a Wall Street chief Welcome to The Program, an invitation only fitness regime organised by the founder of private equity firm Zelnick Media Capital, Strauss Zelnick.

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