What you need to know on Wall Street right now
Finance Insider is Business Insider's summary of the top stories of the past 24 hours.
People have been up in arms about the high price of the EpiPen.
Tensions over this issue have flared up this week as senators and Democratic presidential nominee Hillary Clinton have taken a stand against the price of the medicine. You can see how the price has increased in the last decade here.
In response to the pressure, the medicine's maker, Mylan Pharmaceuticals, said that it would start covering up to $300 of what people pay for an EpiPen two-pack, and that it would double the number of people eligible for its patient-assistance program. It also blamed Obamacare for people noticing its price hike.
Not everyone is buying into Mylan's EpiPen price plan, however, and Mylan's share price is down 11% this week.
For what it's worth, Martin Shkreli says insurance companies are to blame for Mylan's EpiPen debacle.
In other news, Carson Block has a new short, Uber lost a whopping $1.27 billion in the first half of 2016, and Sears is running out of money.
It's a good time to be in stocks, according to Omega Advisor's Steve Einhorn.
The rich are getting more secretive with their money. There's something odd going on in the market. And the American McMansion is dying for good.
Finally, this 350-foot megayacht comes with its own private 'beach' onboard.
Here are the top Wall Street headlines at midday:
There's a simple reason the homeownership rate is at a historic low - One of the most trumpeted economic statistics over the past few months has been the 51-year low in the homeownership rate.
TIFFANY CEO: China isn't buying like it used to - Tiffany & Co's second-quarter comparable sales declined more than analysts expected due to lower tourist traffic and a strong dollar that eroded revenue from markets outside the United States.
This is the main cause of failed corporate acquisitions, according to the HR chief of a billion-dollar company - When Ken Brown joined Legrand, North America (LNA) in 2012, it was nine months into an acquisition that was going poorly.
Gold's biggest buyers aren't buying like they used to - The world's central banks are still net buyers of gold, but they may be slowing down those purchases.
KC FED PRESIDENT: It's time for gradual rate hikes - It is time for the Federal Reserve to raise US interest rates gradually, given progress on employment and inflation, Kansas City Fed President Esther George said in television interviews.
Even the hottest region for housing in America can't escape the new crisis - There's a new housing crisis across the US.
Amazon is getting into the car business - sort of - Amazon launched a new page designed for car fanatics Thursday.