What you need to know on Wall Street right now

Welcome to Finance Insider, Business Insider’s summary of the top stories of the past 24 hours.

Wells Fargo CEO John Stumpf retired on Wednesday in the face of a massive scandal that has dragged the bank down for over a month. Here are the headlines:

Elsewhere in bank news, Goldman Sachs on Thursday officially launched its consumer loan platform, Marcus, and Deutsche Bank has reportedly implemented a hiring freeze.

In macro news, Korea’s central bank is worried about Samsung, and there has been a big shift inside the Federal Reserve.

China’s trade data has delivered some unwanted news, with metals and mining stocks getting hammered in the aftermath. In related news, everything Donald Trump thinks about China and trade is wrong, according to Business Insider’s Linette Lopez.

In company new, Delta posted an earnings beat, and four media companies including Thrillist and NowThis have merged — and Discovery just poured $100 million into it.

Lastly, BMW has a wild vision of what vehicles will look like 100 years from now.

Here are the top Wall Street headlines at midday

Here’s a super-quick Q&A with one Wall Street’s top stock market strategistsAdam Parker is Morgan Stanley’s chief US equity strategist.

UBS: Gold is setting up for a big comeback — Gold is set for a comeback six to 12 months from now, according to UBS.

MINNESOTA GOVERNOR: ‘The Affordable Care Act is no longer affordable’ Democratic Governor of Minnesota Mark Dayton on Wednesday made an admission that the Affordable Care Act, better known as Obamacare, is getting too expensive for people in his state.

Thailand’s King Bhumibol — world’s longest-reigning monarch — has died at age 88 — Thailand’s Royal Palace says King Bhumibol, the world’s longest-reigning monarch, has died at age 88.

France’s finance minister eyes a US bank exodus from London — It is inevitable that big US banks will move activities from London in the coming years following Britain’s decision to leave the European Union, French Finance Minister Michel Sapin said on Thursday.

Initial jobless claims haven’t been this low since the 1970s — Initial jobless claims were unchanged at 246,000 last week, according to the Department of Labour.

The lawyer who just wrote a letter to the NYT for Trump has a fascinating history on Wall Street — On Wednesday the New York Times published the accounts of two women who claim to have been sexually assaulted by GOP Presidential candidate, Donald Trump.

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