What You Need To Know: November 16, 2016

Here’s what you need to know for today:

  • Nasdaq went up yesterday by over 1%. That means tech stocks are up in value. They were down for the last week. Investors seem to be worrying less about what Trump’s foreign and trade policies mean for the future of billion-dollar companies like Apple, Google, and Amazon.
  • Cisco ($CSCO), Target ($TGT), and Lowe’s ($LOW) all report their quarterly earnings today. Target announced that they beat their sales and earning estimates, causing the stock to trade around 9% higher before the markets opened. Investors have faith in the company because they’re seeing more foot traffic (and thus more money spent) in their stores. Lowe’s, unfortunately, did not beat their sales estimates, causing their stock price to sink over 4% this morning. Cisco will be announced in the evening.
  • Snapchat ($SNAP) is going public. Soon, you will be able to buy Snapchat stock. How? Read more about the details here.

What we’re reading this morning:

Facebook won’t block fake news posts because it has no incentive, experts say” by Olivia Solo, The Guardian
Facebook has a bad fake news problem, which is really ticking off its users. Unfortunately, it (allegedly) has no financial incentive to stop these fake news sources.

Warren Buffett is betting on US airlines. Maybe he should heed his own advice from a decade ago” by Leslie Josephs, Quartz
Buffett recently made major investments into several US airlines, but this runs counter to a proclamation he made a while back.

Being an Investment Banker, Far Away From Wall Street” by Adrienne Green, The Atlantic
A profile on Brad Eichler, top brass at Little Rock, Arkansas-based Stephens Inc, and what it’s like for him to work on Wall Street without being anywhere near it.

Share these stories with your friends below, and we hope you have a lovely hump-day!