Street

The term 'Street' is shorthand for Wall Street and broadly refers to the financial community in New York City and elsewhere.
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Definition

Street is a colloquial term used to refer to Wall Street, the financial district located in lower Manhattan, New York City. The term encompasses not only the actual financial institutions, brokers, and exchanges physically situated on Wall Street but also signifies the broader financial markets and institutions, both within New York City and globally. Wall Street is home to the New York Stock Exchange (NYSE), which is one of the largest and most significant stock exchanges in the world.

Examples

  1. New York Stock Exchange (NYSE): The most prominent example of Wall Street, the NYSE is a symbol of American financial markets.
  2. J.P. Morgan Chase & Co.: A multinational investment bank and financial services holding company, commonly associated with Wall Street.
  3. Goldman Sachs: Another major investment bank and financial services company headquartered on Wall Street.
  4. NASDAQ: While its trading floor isn’t on Wall Street, it is considered part of the Street due to its significant role in the financial community.

Frequently Asked Questions

What is the significance of Wall Street?

Wall Street symbolizes the American financial markets. It is home to major financial institutions, investment banks, trading houses, and stock exchanges.

How did Wall Street get its name?

Wall Street gets its name from a wall that was erected by the Dutch in the 1650s for protection. The street ran along the northern boundary of the original Dutch settlement.

Is Wall Street the same as the New York Stock Exchange?

No, Wall Street is a term that represents the financial district and its activities. The New York Stock Exchange is a major part of Wall Street but not its entirety.

Does the term “Street” only refer to financial activities in New York?

While primarily associated with New York, “Street” can be used more broadly to refer to financial markets and communities globally.

Why is Wall Street important to the global economy?

The financial activities that occur on Wall Street have far-reaching implications for global markets. It plays a key role in the trading of stocks, bonds, and commodities, affecting international economic dynamics.

  • Dow Jones Industrial Average (DJIA): A stock market index that measures the stock performance of 30 large companies listed on stock exchanges in the United States.
  • NASDAQ: Refers to both an exchange and its index, known for its technology stocks.
  • Bulls and Bears: Terms used to describe market sentiment; ‘bulls’ are optimistic and ‘bears’ are pessimistic.
  • Investment Banking: A segment of banking related to the creation of capital for other companies, governments, and other entities.
  • Stock Exchange: A market where securities, commodities, derivatives, and other financial instruments are traded.

Online References

Suggested Books for Further Studies

  • Liar’s Poker by Michael Lewis
  • Wall Street: A History by Charles R. Geisst
  • The Big Short by Michael Lewis
  • Flash Boys by Michael Lewis
  • Too Big to Fail by Andrew Ross Sorkin

Fundamentals of Wall Street: Finance Basics Quiz

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