Delivering we have all the details. Power lunch starts right now lets take a look at the markets now. Stocks just slightly higher putting them in record territory. All three indices hitting all time highs check out shares of disney the big dow winner again today that stock is up another 3 . Now more than 14 in the month of november alone. The dow and s p 500 hitting new record highs today bob is at the New York Stock Exchange every time we tick up its a new high hey, another record high people are remaining very bullish, are they not in. Shockingly bullish. Its the diversity of the rally that made peel bullish its not just the fantasy. Its quite amazing theres two things you want to market about the market in november the lows for the day are right at the open and the mark is driven upward. This is a notable print in november thats not always followed in many other months. Second thing you want to know is the stunning diversity of the rally. You rarely get this kind of thing. Boeing an
Slowing economy. Joining us for the hour, stephanie link great to have you. What do you make of this market right now . I have fatigue over trade i really do. Its impossible every day it changes. So im trying to ignore it and focus on fundamentals. Today i thought we got some good data on the economy. The philly fed better than expected vince were better than expected meaning he they went own maybe were bottoming. Lets see the flash pmis tomorrow existing home sales up 5 yearoveryear good consumer, lets talk retail earnings have been very good Minus Department stores and some one office. I think that bodes very well for the consumer fatigue over trade but excitement over m and a. Very much so. Im still excited by trade. Im more excited about bristolmyers closed earlier than expected. Thats a great story for 2020. So theres a lot underneath the surface to this market of whats going on and thats what im trying to focus on versus trade. Lets get straight to that big story, the potential c
Well. Lets dive deeper into the action with all of our markets reporters. Abigail, get us started. Movesl with such small for stocks, i want to highlight a chart from last weight. It is smallcap. Smallcap does very well in december. This chart makes a compelling case for small caps to do well in december. What we are looking at is a decadelong chart of iw m, the smallcap etf on top. We have iw m relative to the s p 500 on the bottom showing smallcap has been on performing over the last decade. See these bottoming areas. That is when smallcap has started to outperform. Frank appel larry is very bullish on the fact that smallcap is not only broken above the 1600 level, but it does appear we could be in a position of time outperformance relative to smallcap. I am going to combine bonds and technology and see if we can do both in 30 seconds. Twitter is issuing their first junk bonds, about 600 million. On eightyear notes, three and three coders. They are getting dashed three and three quar
Bid 140 a share or over 5 billion scluting debt. The apollos offer was accepted. The later offer accepted by tech data as the better offer and buffett says he does not intend to make a higher offer a little bit about tech data, it is a global distributor of Technology Products and services it supplies Small Companies with Technology Software and hardware made by larger companies, larger technology companies, a middle man. This is evidence of what has been happening with Berkshire Hathaway as the cash ward has grown. Topped over 128 billion according to most recent s. E. C. Filings from the company this move is interesting pivot for buffett, he rarely goes up against private Equity Companies and doesnt like to get into bidding wars it shows how hes going further afield to try andlook to deplo his large stash of cash that he has on hand. Hes known as being a cheap guy. Somebody who looks at prices he doesnt like auctions. Doesnt like auctions, doesnt like to get into the fray what is int
World, from vienna to london, frankfurt to washington come our bloomberg roses are on the ground with all the top stories. In vienna, opec is said to reduce its target as a rock promises to comply. Joining me for more is bloombergs annmarie hordern. But do we know so far . Annmarie good morning. What we know is theyve agreed at the opec allies meeting today to cut by the hundred thousand barrels a day, but the devil is in the details. Brent and wti are both lower. This cut is basically cosmetic. We are still waiting for more details because it just brings the figures on paper to what theyve been producing throughout the year. Some members, including saudi arabia, have been cutting well below their target. That was the message from ben salman thisfrom bin morning, and his first meeting is energy minister. He said further compliance is needed. Everyone in the room knew he was talking about, even though he didnt name and shame. The message was simple. Stop cheating. Alix indeed. Thank you