Market Insight Blog

Global banks handled laundered Russian cash worth hundreds of millions
How to create an offshore shell company Some of the world's biggest banks processed hundreds of millions of dollars reportedly from a vast Russian money-laundering scheme, data from leaked documents show. The data show that major U.S. banks including Bank of America (BAC), JP Morgan (JPM), Wells Fargo (WFC) and Citi (C) all processed money from the scheme. Global banks HSBC (HSBC), Deutsche Bank (DB), Standard Chartered (SCBFF) and Barclays (BCS) also appear to have executed transactions. The […]

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Whale of a deal: SeaWorld owner sells stake
Should there still be a SeaWorld? SeaWorld stock is surging after one of its owners agreed to sell its stake to a Chinese company. Blackstone (BX), the private investment firm, is selling its 21% stake in the amusement park chain to Zhonghong Group for $23 a share.

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Insurers' pullback has put Obamacare at risk, no matter what Congress does
GOP remains split on health care bill There may or may not be a vote on the fate of Obamacare on Friday. But make no mistake. Even if lawmakers wind up failing in their bid to repeal the Affordable Care Act, the future of the seven-year-old health care law is still highly uncertain.

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Steven Mnuchin calls out debt limit as a 'ridiculous concept'
Breaking down Trump's budget proposal Treasury Secretary Steven Mnuchin on Friday suggested the idea of a U.S. debt limit is misleading. "We've spent the money. So the concept of the debt limit is somewhat of a ridiculous concept. ... This is a payment limitation," Mnuchin said in an interview with Axios cofounder Mike Allen.

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Mnuchin: Trump has 'perfect genes,' has given up KFC
Steve Mnuchin in 90 seconds President Trump has perfect genes. That's according to Treasury Secretary Steven Mnuchin, who sat for a wide-ranging interview with news site Axios on Friday in Washington. When he wasn't discussing economic growth and tax reform, Mnuchin riffed on the president's "incredible" stamina and his improved White House diet. Here are the highlights. Mnuchin on the president's genes and diet Asked about Trump's White House style, Mnuchin said Trump is constantly on the […]

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Keystone XL pipeline would only create 35 permanent jobs
Trump signs oil pipeline executive actions President Trump hailed the State Department's approval of the controversial Keystone XL pipeline as a big win for American workers. "It's a great day for American jobs," Trump said from the Oval Office on Friday after the State Department issued a permit allowing the pipeline proposed by TransCanada to go forward.

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Steven Mnuchin: Trump's new tax reform plan coming 'very soon'
Breaking down Trump's budget proposal Treasury Secretary Steven Mnuchin remains confident that tax reform will happen this year, if not by August as he originally predicted, then definitely by the fall, he said Friday. "We'll come out with a plan very soon," Mnuchin said in an interview with Axios cofounder Mike Allen.

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Enough about Trump! Market tired of politics
Happy birthday, bull run! Wall Street has had it with the obsession over Donald Trump and everything going on in Washington. Yes, what happens in the nation's capital will affect the broader economy -- to a certain extent.

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Mnuchin talks tech: 'I don't understand these valuations'
Steve Mnuchin in 90 seconds Tech stocks are booming. But Treasury Secretary Steven Mnuchin thinks they might be too expensive. "I don't understand these valuations," he said Friday in an interview with the news site Axios in Washington. Apple (AAPL, Tech30) and Facebook (FB, Tech30) stock are each up more than 20% this year. Amazon (AMZN, Tech30) is up 13%, and Netflix (NFLX, Tech30) more than 15%. The secretary was asked for his thoughts on Silicon Valley. He wouldn't comment on specific […]

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What's inside the Republican health care bill?
GOP's Obamacare replacement bill: Winners and losers House GOP lawmakers are preparing to try to fulfill their promise to repeal Obamacare ... or major portions of it. The House is set to vote on the legislation, called the American Health Care Act, on Friday. Republican leaders have already made several changes to placate both conservatives and moderates, but a number of members in both chambers remain concerned. So a lot may change before it reaches President Trump's desk.

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