Gross domestic product has fallen short of expectations once again.
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What you need to know on Wall Street right now
Finance Insider is Business Insider's midday summary of the top stories of the past 24 hours.
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- JPMorgan is hiring bankers in a city near you
- JPMorgan's traders made $80 million a day in 2016
- One of the most senior women on Wall Street just issued a rallying cry for stock pickers
- Get the latest updates from the investor day here
In other news, one of Asia's top trading firms is shutting down a large chunk of its US business. One of the top hedge fund launches of the year has landed a big-name backer. And a new ETF is launching based on "biblical values" that excludes investing in companies that support "the LGBT lifestyle."
In deal news, years-long dream of a European exchange ended in half an hour. And Warren Buffett made an inappropriate remark to describe the logic behind a $140 billion takeover bid.
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In earnings news, Valeant beat on the top and bottom lines. Still, the stock is down sharply.
Here's what to expect tonight as President Trump delivers his "biggest speech to date." Trump has said he wants to cut $54 billion in spending from domestic agencies — that's enough to wipe several of them out. He later said the increase in military spending will come from "a revved-up economy."
Further, Trump's protectionism could tip the world back into recession, according to the chief economist at MFS Investment Management.
Snap made its Wall Street debut — in Twitter's annual report. And United Airlines' CEO explained how "raw and visceral" employee feedback helped turn his company around.
Lastly, Elio's tiny car gets 84 mpg and costs only $7,300 — here's what it was like.
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The world's biggest drugmaker just pulled back the curtain on drug pricing - The world's largest drugmaker just gave us a better idea of how drug price hikes impact its business.
Goldman Sachs held a millennial conference for clients last week — here's what we found out - Goldman Sachs Asset Management (GSAM) held its second annual "Young Professionals and Future Leaders" conference at its London office last week.
JPMorgan, Microsoft, BP, UBS, Credit Suisse, Intel, and more are forming a new blockchain alliance -
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BUFFETT: Wells Fargo's accounts scandal was "a huge mistake" - Warren Buffett expressed his disappointment with the fake accounts scandal at Wells Fargo during an interview on Monday.
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