Stock market news today October 22

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A Wall Street expert who recently fled the stock market
says these 3 signals need to flash before he gets back
in

Vincent Deluard, a macro strategist at INTL FCStone,
made a very prescient call when he forecast the most recent
equity sell-off right before it happened.

While his foresight was rewarded, Deluard now faces the difficult
task of figuring out when to reenter the stock market —
and outlines three signals that need to flash before he considers
it.

Goldman Sachs is creating a new consumer finance division
— and it’s part of a goal to take on wealth management
giants

Goldman Sachs has
big ambitions for its small-but-growing consumer finance
business, Marcus.

It’s a key part of CEO
David Solomon’s plans to boost revenue at the
bank, and one that could
become a
$1 billion revenue opportunity in the next
few years.

To supercharge Marcus’ growth, Goldman said on Monday that it’s
creating a new unit to house both its digital finance business
and its investment management division. The goal is
the next
step in Goldman’s plan to take the Marcus platform from its
consumer banking roots to a more
full-service wealth offering.

A $100 million trade shows how Credit Suisse is competing
in a cutthroat race to snag the biggest stock trades

In a cutthroat race to snag the biggest stock trades, Wall Street
banks have been taking on more risk to compete.
Credit Suisse had chosen to stay on the sidelines of one
increasingly popular trading strategy — until now.

The Swiss bank in the past 12 months has introduced a so-called
central risk book, a desk in which technology pools risk across
dozens of traders so it can be better managed. The new CRB,
rolled out this year in Europe after debuting last year in the
US, is another
sign the Swiss bank has growing ambitions
and is increasing the amount of risk it’s taking in equities
trading.

One notable trade on the European risk book this year was above
$100 million, a person familiar with the trade said. While a $100
million trade is a large amount for a single transaction at any
bank, at Credit Suisse it was especially so.

HSBC is making a $130 million investment in its bank
branches and the latest step is to arm its bankers with Samsung
watches

HSBC has
begun what it’s calling a first-of-its kind program to bring
wearable technology into its bank branches.

The firm is piloting a program where branch bankers wear a watch
allowing them to send and receive messages, or speak to
colleagues using small microphones.

The pilot is a partnership with Samsung at HSBC’s flagship Fifth
Avenue branch in New York City in which HSBC bankers will wear
Samsung Gear S3 watches with customized software.

The idea of the program is that it will allow employees at the
branch — which has three floors and lots of rooms — to be more
productive by improving communication, according to Jeremy
Balkin, head of innovation for HSBC’s US unit. Due to the size of
the branch, its often hard to know where employees are at any
given time and difficult to find them if one of their customers
shows up for a meeting, or the front desk needs covering, he
said.

Business Insider visited HSBC’s branch last week to check out the
new wearable technology.

Aurora Cannabis is plunging ahead of its debut on the New
York Stock Exchange

Aurora Cannabis was plunging Monday, down
more than 10%, one day ahead of the
company’s trading debut on the New York
Stock Exchange.

The Canadian producer, which grows cannabis for both the
adult-use and medicinal market, has seen its market
capitalization explode by more than 150% since August — to nearly
$10 billion — as both corporate giants and investors have gotten
in on the “green rush” into marijuana.

In markets news