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What you need to know on Wall Street today

Finance Insider is Business Insider's midday summary of the top stories of the past 24 hours.

Wilbur Ross.

Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours.

The new antitrade push may force retaliation from two key allies, according to Business Insider's Pedro da Costa.

David Einhorn's Greenlight Capital is out with its first quarter letter to investors. The fund delivered 1.3% net of fees in the first quarter, below the S&P 500 index return of 6.1%. Einhorn identified his short position in Tesla as one of the biggest losers in the period.

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President Donald Trump may be the least popular president in modern history, but even his main detractors can't deny the stock market's strength under his administration. We're about to get a clear example proving the stock market is not the economy. And Goldman Sachs is sounding the alarm on a crucial barometer for the markets.

There's a bunch of company news:

  • McDonald's crushes earnings expectations thanks to new Big Macs and all-day breakfast
  • Tyson Foods is buying packaged-food maker AdvancePierre for $3.2 billion
  • LVMH wants to consolidate control over Dior with £5 billion deal
  • Caterpillar posts dynamite earnings but warns of "geopolitical and market uncertainty"
  • A biotech's new drug sold 3 times better than expected — and the stock is taking off
  • Coca-Cola's profit sinks 20% as labor costs weigh
  • Netflix is going to China
  • PULTEGROUP: The spring selling season "points to the ongoing strength in recovery for the housing industry"
  • We're about to find out if Chipotle is overvalued
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A huge pharma middleman just lost its biggest customer — and it shows how drug pricing really works.

Marissa Mayer will have $186 million in Yahoo stock when Verizon buys the company. Netflix CEO Reed Hastings saw his pay jump almost 40% to $23.2 million in 2016, but that's tiny compared to his net worth.

Mark Cuban is backing an app that's trying to help people avoid overdraft fees.

We went inside young Silicon Valley's elite meeting about the soul of the entire global economy.

Lastly, Delta is partnering with the on-demand helicopter startup Blade so that VIPs can avoid the airport.

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Procrastinating on filing taxes may be hurting the US economy- The first reading of the US economy's performance in the first quarter, scheduled to be released Friday, is expected to show growth of 1%.

New rules are going to fundamentally change the business models of brokers - It’s been a long time coming but MiFID II (MiFID) is almost upon us.

WEDBUSH: Amazon's share price could explode more than 35% higher - Wedbush Securities just put a $1250 price target on Amazon's stock.

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New home sales unexpectedly jump in March - New home sales unexpectedly jumped in March, according to the Department of Commerce.

Here's where the name "Rolex" really came from - Rolex is a storied brand — one of, if not the most notable in the watchmaking world.

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