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Wall Street is changing — fast.
In other news, we’ll get the Fed minutes later today. Check back here for updates on what you need to know.
In the meantime, a giant hedge fund used AI techniques to analyse Fed minutes going back two decades — here’s what it found.
In markets news, the New York Stock Exchange on Wednesday said it was experiencing a technical issue that sent trading to other exchange venues for a subset of symbols.
The world is in the throes of a demand crisis, so to save the global economy, three countries should take it upon themselves to buy the world, according to HSBC. Goldman Sachs just downgraded stocks all over the world.
And shares of the mysterious company soon to be headed by John McAfee are whipsawing around.
On Wall Street, a senior female executive at Bank of America has sued over the company’s ‘egregious pay disparity.’ Jefferies just hired 5 big-name tech bankers from Credit Suisse. And this chart shows the most profitable businesses in investment banking.
Lastly, the best free economic data resource in the world is getting a facelift in June.
Here are the top Wall Street headlines at midday:
Oil could snap back bigger and badder than ever ― When oil does come back, it could come back with a vengeance.
The force that’s reshaping the global economy has big implications for the US dollar ― Dramatic historical juxtapositions that highlight the extent of today’s technology revolution are easy to find. The chip inside a singing birthday card has more computing power than the Allied forces had in World War II.
There’s one key driver of inflation that’s not showing any signs of slowing down soon ― Inflation will continue to be boosted by one key component of consumer prices: rent.
Goldman Sachs: Tesla’s a buy ― Tesla shares jumped Wednesday after Goldman Sachs auto analyst Patrick Archambault upgraded the electric car maker’s stock to ‘buy’ with a $250 target price.
Trump wants to dismantle Obama’s Wall Street reforms ― Republican presidential candidate Donald Trump said on Tuesday that sweeping financial reforms put in place under President Barack Obama were harming the economy and he would dismantle nearly all of them.
We finally have more details about what’s going to happen to the most iconic dining rooms in NYC ― The Four Seasons restaurant will change hands and be placed firmly in the grip of one of the hottest restaurant groups in New York City: Major Food Group.
The company that created the ‘greatest hoodie ever made’ just released a $35 T-shirt that took a year to make ― American Giant is on a mission to bring manufacturing back to the US, one clothing item at a time.