Welcome to Finance Insider, Business Insider’s summary of the top stories of the past 24 hours.
The US election cycle is dominating the news right now, impacting companies and markets alike. Here’s the latest:
- Hillary Clinton has vaulted to a double-digit lead over Donald Trump in a poll after lewd tape leaks
- PAUL RYAN: I will no longer defend Donald Trump or campaign for him
- Warren Buffett attacked Trump over his tax returns
- Billionaire hedge fund manager Carl Icahn is still backing Trump
- The Mexican peso is surging after a tumultuous weekend for Trump
- Some of the world’s biggest companies are about to blame their poor earnings on the US election
- There are tons of Trump supporters in China — even though he keeps bashing the country
- JOSH BARRO: Republicans are learning that Hillary Clinton was right about “deplorables”
In other news, a group of religious leaders and investors that hold shares in Wells Fargo condemned the bank and are calling for a deeper investigation into the bank’s business.
Twitter shares are getting pounded again on reports that bidders have lost interest. And Apple’s stock is rising as Samsung bungles its exploding smartphone recall. Meanwhile, Twilio’s stock is down roughly 12% in midday trading on Monday, after the tech company announced plans to sell more equity in a follow-on stock offering.
The former head of M&A at Twitter and Square is joining one of Silicon Valley’s oldest VC firms. And the great IPO unclogging couldn’t come soon enough for bankers.
Financial advisors and market strategists usually warn their clients that the market’s performance in the past is not a reliable guide for its future moves. But when Citi’s Tom Fitzpatrick and his team overlaid the current chart of the benchmark S&P 500 with the index in 1987 — right before the crash — they got “the chills.”
In commodities news, crude oil is ripping higher after Vladimir Putin said “Russia is ready” to cap its production.
Lastly, the Audi R10 V10 is a supercar for everyday life.
Here are the top Wall Street headlines at midday
‘We are in the middle inning of the reshaping of the financial landscape’ — It wasn’t just Deutsche Bank that was grappling with big questions about the future at the International Monetary Fund meetings in Washington last week.
The sun may finally be coming out for the biggest businesses in America — The earnings recession may finally be over.
The trillion-dollar reason why Wall Street should take gender diversity more seriously — There are plenty of reasons why companies and investors should take gender diversity seriously.
CREDIT SUISSE: Everyone else on Wall Street is wrong about these 10 stocks — Sometimes it pays to go against the mainstream.
Tesla’s critics are ignoring one of the company’s biggest strengths — These are weird, borderline surreal times for Tesla.
A new kind of drug is working better than chemotherapy in some lung cancer patients — For people with advanced forms of lung cancer, chemotherapy might not be the only — or even the best — option.
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