ADVERTISEMENT

What you need to know on Wall Street today

Finance Insider is Business Insider's midday summary of the top stories of the past 24 hours.

Jeff Bezos, founder of Blue Origin and CEO of Amazon, speaks about the future plans of Blue Origin in Washington

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

ADVERTISEMENT

While the Nasdaq hovered at new highs on Monday, Amazon was marking a milestone of its own. The company went public on this day 20 years ago as an unprofitable online bookstore that was just three years old.

ADVERTISEMENT

Sears CEO's master plan to profit off the demise of his stores is taking a turn for the worse. In related news, the retail apocalypse is coming — it just may take longer than people think.

In markets news, one group of companies has emerged as the clear winner of this earnings season. Stocks just did something they hadn't done since 1995.

ADVERTISEMENT
  • Oil prices jump
  • The ruble is surging
  • Energy stocks are climbing

Here's the latest company news:

  • AIG names Brian Duperreault as its CEO
  • A major Tesla bull just downgraded the stock, and shares are sliding
  • JCPenney sinks after UBS warns of a "tough path forward"
  • Cybersecurity stocks are rallying after the global ransomware attack
  • The restaurant industry is in the depths of a recession — and chains are only making the problem worse

And here are some highlights from a few recent Business Insider interviews:

  • Investing legend Ray Dalio shares the simple formula at the heart of his success
  • $385 BILLION FUND CHIEF: Fund managers are miserable
  • JAMIE DIMON: There's no such thing as a dead-end job
ADVERTISEMENT

There's now a vending machine in Singapore that dispenses Ferraris. One of the rarest watches in the world just sold for $5 million and became the most expensive Rolex ever. And a cocktail that was forgotten for almost 50 years is suddenly taking over city bars.

Lastly, people prefer tap water over "premium" £1.49 Fiji Water in a blind taste test.

FOLLOW BUSINESS INSIDER AFRICA

Unblock notifications in browser settings.
ADVERTISEMENT

Recommended articles

Africa's gaming gold rush: Unveiling the surge in online gambling

Africa's gaming gold rush: Unveiling the surge in online gambling

Seven African countries added to Meta's AI service coverage

Seven African countries added to Meta's AI service coverage

10 African countries with the lowest inflation rates in 2024

10 African countries with the lowest inflation rates in 2024

Davido launches his label Nine+ in partnership with UnitedMasters

Davido launches his label Nine+ in partnership with UnitedMasters

Nigeria's economic ranking drops to fourth in Africa

Nigeria's economic ranking drops to fourth in Africa

Moscow inaugurates its House of Africa

Moscow inaugurates its House of Africa

The CBN justifies $2b billion loss in forex, dispelling Naira defense claims

The CBN justifies $2b billion loss in forex, dispelling Naira defense claims

10 best airports in Africa in 2024

10 best airports in Africa in 2024

10 most expensive cities in Africa in 2024

10 most expensive cities in Africa in 2024

ADVERTISEMENT