What you need to know on Wall Street today
Mark Haefele is constantly in the air.
A former lecturer and acting dean at Harvard University, Haefele is the global chief investment officer at UBS Wealth Management, overseeing policy and strategy for $2 trillion in assets. He is also always traveling.
Business Insider caught up with Haefele this week at the UBS CIO Global Forum in New York before he set off on another long-haul flight. He discussed his biggest fear, China, millennials, and bitcoin.
Kevin Warsh, a former Morgan Stanley banker and Federal Reserve Board Governor, appears to have edged a step closer to clinching a nomination from President Donald Trump to replace Janet Yellen at the helm of the US central bank. And here's the latest on Trump's tax plan:
- Republicans have a $700 billion problem that could make their new tax plan nearly impossible
- Trump's massive tax plan is about to create the "corporate hunger games"
- Trump's tax cut could hand Wall Street banks a $6.4 billion profit boost
- Here's how your take-home pay could change if Trump's new tax plan is passed
- MARK CUBAN: Here's how I'd tackle tax reform
- JOSH BARRO: Here's how the Trump tax plan would raise taxes on many middle-income families
In markets news, an investing legend who has nailed the market at every turn just got even more bullish on stocks. Here's what keeps investment heavyweights up at night. And Roku is rocketing higher in its second day of trading.
In other news, Elon Musk wants to fly people around the world in under an hour, Whole Foods is investigating a credit-card security breach, and everyone is calling the new iPhone X the "Ecks" even though Apple says it's pronounced "10."
Lastly, Aston Martin unveiled a luxurious yacht and submarine at the Monaco Yacht Show.