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What you need to know on Wall Street today

Published by Business Insider on Fri, 05 May 2017


Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours.The US economy added 211,000 jobs in April, rebounding after an unexpectedly weak March, according to the Bureau of Labor Statistics. Here's what you need to know:Jobs make a comeback, unemployment rate drops to the lowest in a decadeWage growth slows downLabor force participation ticks downCanada's jobs report disappointsIn the stock market, traders are losing billions betting against some of America's most popular companies. Mystery trader "50 Cent" has been unmasked. And the world's hottest investment product is heading for a record-breaking year.And in the bond market,Fed officials are giving more speeches than ever but their message is still muddled."Cracks are emerging" in one of the riskiest parts of the market.In commodities, the oil-rig count climbed for 16th straight week. And ahuge oil producer is ramping up production ' but there's reason to remain cautious.JPMorgan is trying to tackle a "moral and economic crisis" in the South Bronx. Brexit is making Goldman Sachs eye up Frankfurt and Dublin for expansion.And here are the 11 richest hedge fund managers in Britain.Berkshire Hathaway's annual meeting 'a financial pilgrimage that draws throngs of CEO Warren Buffett's admirers from around the world ' is on Saturday. Here's what you need to know:Warren Buffett, IBM's biggest believer, sold a third of his stock in the companyWarren Buffett wants to buy something hugeWarren Buffett brilliantly explains how bubbles are formedWarren Buffett explains why a good business is one "your idiot nephew" could runHere's what it's like to be a shareholder at Berkshire Hathaway's annual meetingThere's $2.4 trillion dollars stashed overseas ' here are the companies hoarding the most cash outside America. In related news, here's what you need in tech:Here's why a Wall Street analyst thinks Apple could buy Tesla, Netflix or DisneyJeff Bezos just sold nearly $1 billion of Amazon stockWalmart applies for a patent to rival Amazon DashMark Zuckerberg's plan to create non-voting Facebook shares is going to trial in SeptemberTesla just made a disastrous pivot on the Model YHere are 3 stocks that bridge the generational divide between millennials and their eldersHere's the most expensive home for sale in every state. Here's the the 26 major cities with the highest quality of life in the world.Lastly, go inside the stunning French bistro that was just named the best new restaurant in America.SEE ALSO:The 27 most important finance books ever writtenJoin the conversation about this storyNOW WATCH: HBS professor on Wells Fargo: 'Clawbacks are nice but they're not really solving the problem in a deep way
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