What you need to know on Wall Street today
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It's crunch time for the latest Republican healthcare bill - and it doesn't look good. Republican lawmakers in the Senate are days away from perhaps a final deadline on repealing and replacing the Affordable Care Act, a seminal promise from the party for more than seven years.
Meanwhile, the newest version of the bill is already getting a slew of brutal reviews.
In Wall Street news, Steve Cohen took a big step in launching his massive new hedge fund, Business Insider reported late Friday. Cohen, the billionaire hedge-fund manager briefly banned from the industry after an insider-trading investigation, has sent investors documents pitching his new fund, a person who reviewed the deck told Business Insider. And the terms are steep.
In markets news:
- Stocks slide after North Korea accuses the US of declaring war
- An 'ominous' pattern in Amazon's chart could catch Wall Street off guard
- Facebook is falling amid controversies over Russian election influence and its share structure
- Bitcoin is popping
- GE is climbing after offloading its industrial unit for $2.6 billion
- GOLDMAN SACHS: The future of the bull market hinges on one key driver
- The maker of Botox has turned to the oldest trick in the book to save its cratering stock
Aldi is fixing a major weakness and coming straight for Whole Foods. China may make a key policy change that would be a huge win for Tesla.
Larry Summers says Treasury Secretary Steve "Mnuchin may be the greatest sycophant in Cabinet history."
Lastly, there's a tiny college outside Los Angeles where graduates out-earn Harvard and Stanford alums.