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Wall Street is betting the president won’t let stocks collapse

Investors are once again growing worried about the US-China trade war. But Wall Street isn’t completely freaked out. Even after the recent tumble, the S&P 500 is sitting just 6% away from all-time highs. And the VIX volatility index is hardly flashing panic. One major factor: Investors know that President Donald Trump is very focused…MORE

Uber earnings; More retail; Mixed markets

1. Uber earnings: Uber will have a chance Thursday to reassure investors that it’s on track after a disappointing Wall Street debut. The company is set to release earnings from the first three months of 2019 after US markets close. Investors will look for management to more clearly outline Uber’s plans to start making money.…MORE

Bob Iger on ‘Galaxy’s Edge:’ The whole CNN Business interview

The following is a transcript of the interview CNN Business’ Christine Romans conducted with Disney CEO Bob Iger regarding the opening of “Star Wars: Galaxy’s Edge” — billed as the largest expansion of Disney’s theme parks. Portions of the interview have been edited. Talk to me about Galaxy’s Edge, the largest expansion at Disney’s Theme…MORE

Topshop is closing all US stores

In another sign of traditional retailers’ struggles, Topshop plans to close all 11 of its US stores as its parent company seeks to restructure after filing for bankruptcy protection. Arcadia Group, the London-based owner of fast-fashion chain Topshop Topman, said it was facing “unprecedented” market conditions in the retail sector. Like other brick-and-mortar retailers, the…MORE

Banker gives inside look at why Uber and Lyft IPOs failed to live up to the hype

Uber and Lyft were two of the most highly anticipated IPOs in recent memory. And both were duds. Almost immediately, the ride sharing companies broke below their IPO prices. That’s committing the cardinal sin of the IPO world. The high-profile flops demonstrate the need for money-losing companies to do a much better job explaining how…MORE

Consulting firm McKinsey no longer working with opioid maker Purdue Pharma

Management consulting giant McKinsey & Company will stop doing work for Purdue Pharma, the controversial drug firm that makes the prescription painkiller OxyContin. “Opioid abuse and addiction are having a tragic and devastating impact on our communities. We are no longer advising clients on any opioid-specific business and are continuing to support key stakeholders working…MORE

Can anything stop Chipotle? Its stock is up 55% this year

Chipotle dealt with a major health crisis that could have led to permanent damage to the restaurant chain’s reputation and stock price. But customers have clearly forgiven (and perhaps forgotten) about the E. coli outbreak of late 2015 and early 2016. So has Wall Street. Shares of Chipotle have soared nearly 55% this year, making…MORE

Brexit fears have already trashed the pound. May’s exit offers little relief

British Prime Minister Theresa May’s resignation is unlikely to end a tough run for the pound, which has fallen steadily this month as the risk of a damaging no-deal Brexit rises. The pound edged higher to almost $1.27 on Friday following May’s announcement that she’ll step down in June after failing in her bid to…MORE

Oil watch; Huawei bargain; Theresa May quits

1. Oil watch: Investors will be keeping a close eye on oil Friday after it suffered its worst day since Christmas Eve on Thursday. After starting the day above $61, US oil prices nosedived nearly 6% to a 10-week low of $57.91 a barrel. Chevron and ExxonMobil fell 2%, while oil drillers like Hess plunged…MORE

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