What you need to know on Wall Street today
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After an uncharacteristic bout of silence, President Donald Trump has weighed in on the recent stock-market turmoil - and he's not happy.
Trump took to Twitter to argue that the decline was a "big mistake" that happened amid a strengthening US economy. Despite the unpredictability of markets, Trump has frequently taken credit for the stock market's huge surge since the election.
The markets continued their comeback on Wednesday, with the Dow Jones once again eclipsing the 25,000-point threshold. The index was up more than 300 points by midday.
Here's more from Business Insider's coverage of market's roller coaster week:
- There are 2 reasons why this stock meltdown is different from past ones
- The stock market is not the economy - but the wild ride of the past 3 days is telling us something really important
- Billionaire hedge fund legend Paul Tudor Jones used a quote from Shakespeare to sound the alarm on a financial bubble
- GOLDMAN SACHS: Here are the 3 areas of the stock market to buy following the meltdown
- The infamous 'VIX Elephant' trader just returned to harvest the gains he made when stocks went haywire
- Neel Kashkari says he has one word for people who complain about the Fed's low interest rate policy
- IPO bankers are unfazed by the mayhem in the markets
Meanwhile, Snap crushed earnings expectations on Tuesday, sending its stock price through the ceiling. That didn't work out so well for investors who were shorting the company. The skeptics have reportedly lost $375 million.
Billionaire doctor Patrick Soon-Shiong is buying the Los Angeles Times from its parent company Tronc for a reported $500 million. Tronc shares soared on the news.
Billionaire casino mogul Steve Wynn resigned from Wynn Resorts amid sexual-misconduct scandal, sending the company's shares upward.
Tesla stock is up as the company is set to report earnings after the bell Wednesday. Elon Musk's other company, SpaceX, successfully launched a Roadster on it's Falcon Heavy rocket Tuesday afternoon.
Apple and Goldman Sachs are close to a deal that might increase the price of Apple's iPhone payment plans.
Lastly, here are the 30 best-selling cocktails in the world in 2018.