Welcome to Finance Insider, Business Insider’s summary of the top stories of the past 24 hours.
The Dow Jones Industrial Average closed at all-time highs on Thursday, a move not many on Wall Street saw coming.
“I’m kind of proud of the markets” for turning around so quickly, said Jeff Kleintop, the chief global investment strategist at Charles Schwab, in an interview with Business Insider.
“They learned the Brexit lesson: that the market’s first reaction may not be the one that they should follow,” Kleintop said.
Here’s what we know so far about what a Trump presidency means for the drug industry. There is a glaring flaw in Trump’s health plan. Gold could soar under his presidency, according to Capital Economics. Trump is about to hand China a lovely present, according to Business Insider’s Linette Lopez.
Elsewhere in geopolitics, France is the next big vote to watch, according to Berenberg.
In company news, JC Penney slashed its sales forecast and its shares are crumbling, and Nvidia’s shares surged on a big earnings beat. ESPN is crushing Disney. And investigations are piling up at Mylan.
To mark Veterans Day, Business Insider’s Tina Wadhwa took a look at the Wall Street firm giving service-disabled vets an opportunity in finance. And here are six tips on how to move from the military to Wall Street.
Here are the top Wall Street headlines at midday
LLOYD BLANKFEIN: Jamie Dimon as Treasury Secretary would kill 2 birds with one stone – Goldman Sachs CEO Lloyd Blankfein is on board with the idea of Jamie Dimon as Treasury Secretary.
A lot of Wall Street analysts shop at Whole Foods, and it may be clouding their judgment – Whole Foods Market has generated a loyal group of health-conscious customers over the years who are willing to spend a little or a lot more for their groceries.
A letter to young professional women in the ‘Age of Trump’ – When I was your age, I thought it was over. My mother was a feminist, so I wanted to call myself anything but a feminist. And anyway, I seemed pretty welcome at work. Even though it was Wall Street, my analyst class was about a third women. We weren’t just on our way — we’d arrived.
Consumer confidence rebounds from a 2-year low, but with an important catch – Consumer sentiment rebounded in early November after dropping to a two-year low in the prior month, according to the University of Michigan’s monthly survey.
CME’s CEO is stepping down – Phupinder Gill, chief executive of CME Group since 2012, will retire at year’s end, the world’s largest futures market operator said in a statement on Thursday.
Valeant may seek to clean up its name by changing it – Valeant Pharmaceuticals, the drugmaker that became a poster child for high drug prices during the US election season, may change its name to help boost its reputation, board member and top investor William Ackman told CNBC on Wednesday.
HSBC: These are the questions clients are asking us about Trump – Donald’s Trump’s shock election to the US Presidency caused shockwaves in the financial markets.
The euro’s had a rough week – The currency is down by 0.5% at 1.0833 against the dollar as of 12:11 p.m. ET.
Porsche has a stunning new Panamera luxury limo – While the word “limo”,”chauffeur”, and “Porsche” rarely appear in close proximity to one another, they live in harmony within the new Panamera Executive.