Welcome to Finance Insider, Business Insider’s summary of the top stories of the past 24 hours.
US gross domestic product grew at an annualized rate of 2.9% in the third quarter, its fastest in two years, according to the advance estimate released Friday. The US economy can thank soybeans for the big GDP beat.
The report throws a wrench into one of presidential nominee Donald Trump’s main arguments, according to Business Insider’s Bob Bryan.
Stocks are tanking on news that the FBI is reopening its investigation into Hillary Clinton’s emails. You can get the latest data on what’s going on in the markets here.
Peter Muller is one of Wall Street’s most revered quant traders — but a work imbalance early in his career nearly derailed him. He took time off, busked on the New York subway, and now combines his love of music with his hedge fund day job. On Thursday night, he played with his jazz band, at one point performing a song about what it’s like to be a divorced billionaire back on the dating scene.
“You want my body / she likes my money… maybe we can find love,” the song goes.
Elsewhere in finance news, everything on Wall Street is shrinking: profits, headcount, bonuses.
General Electric is in discussions with Baker Hughes on potential partnerships. The company that’s supposed to protect America’s cops is being accused of some shady stuff. Chipotle is trying to defend itself from Bill Ackman.
And drug wholesalers are getting slammed after McKesson warned that cost scrutiny is hurting its business.
Google earnings topped targets and the company said it will buy back $7 billion of stock. On the earnings call, Google’s CFO Ruth Porat defended Alphabet’s setbacks but struggled to justify its purpose. Here’s what Wall Street had to say about the strong third-quarter earnings.
Volvo’s US CEO talked to Business Insider about the $300 million Uber deal and creating the safest car in the world.
Here are the top Wall Street headlines at midday
Inside the Wall Street charity day where celebrities and star athletes pretend to be traders — Bloomberg Tradebook hosted its fifth annual charity day on Thursday, October 27, with Mike Bloomberg and celebrities taking to the phones to drum up trading commissions for charity.
UBS is warning that the world is still brutal despite a good set of numbers — UBS delivered a nice surprise for investors on Friday, with third-quarter profit beating forecasts.
One of the most important trade deals in the world lives — but so does anti-globalization sentiment — CETA, the historic free-trade agreement between the European Union and Canada, is close to completion.
Investors are holding a ton of cash right now — Many investors interpret high cash levels as a contrarian indicator, suggesting an excessive level of caution.
There might be a bubble brewing in bourbon — Bad news for bourbon.
Wall Street billionaire Steve Schwarzman explains why he committed to hiring 50,000 veterans — Steve Schwarzman, the CEO and cofounder of $340 billion investment giant Blackstone Group, moves in esteemed circles.
Xi Jinping’s new political status puts him on par with Mao Zedong — On Thursday, the Chinese Communist Party elevated General Secretary Xi Jinping to the “core” of its leadership, making him even more powerful in the run-up to the 19th National Congress.
The Nissan 370Z Nismo Tech is the definition of predictable excellence in a sports car — At just over $46,000, our 2017 Nissan 370Z Nismo Tech represents an incredible value for the money in sports cars.