What you need to know on Wall Street right now

Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours.US gross domestic product, orGDP, whiffed in the fourth quarter, increasing atan annual rate of 1.9%. Economists had estimated that the US economy grew by 2.2%.Over on Wall Street, Vanguard founder Jack Bogle says hedge funds and mutual funds are "throwing up a whole lot of straw men" and excuses for why their funds are not outperforming their index benchmarks, despite having higher fees than index funds.And one of the most powerful women in finance, Bessemer Trust's Rebecca Patterson, sat down with Business Insiderto talk about protectionism, China, Dow 20k, and 'Brexit on steroids.' Terry Duffy, the CEO of exchange giant CME Group, told Business Insiderwhy he's cautiousabout expanding into China. And the EpiPen maker Mylan's CEO says she totallybacks Trump on drug pricesexcept for how he plans to lower them.Here are the top Wall Street headlinesfrom the past24 hoursThe government website to help Wells Fargo whistle-blowers disappeared after Trump took officeThe US Department of Labor has quietly removed a special website it created as a resource for current and former Wells Fargo employees on workplace issues.TRUMP: Reagan was the best president of my lifetime, but he was 'not great' on tradeIn an interview with Fox News' Sean Hannity, Trump said that Reagan was his favorite president to have served in his lifetime.Microsoft's value tops $500 billion for the first time in 17 yearsBoth Microsoft and Google's parent company, Alphabet, reported earnings on Friday.Starbucks is facing a huge crisis, and the CEO refuses to say how he's going to solve it The coffee chain's stores are being inundated with mobile orders, and that's drastically slowing down service and alienating customers.Consumer confidence soars to the highest level in 12 years The final Januaryreading of consumer confidence from the University of Michigancame in higher than expected.SEE ALSO:The 27 most important finance books ever writtenJoin the conversation about this story
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