Are miles apart. We are focused on that potential record close on the s p 500. The number youre watching for is 3386. 15, a couple points off of it as we stand, sara. Hard to believe that we are here coming up on todays show. S p 500 could close at a record high for the First Time Since mid february were going to talk to wharton professor Jeremy Siegel about whether the rally can last from here. Plus counting down to a pair of key Earnings Results after the bell, lyft and cisco gearing up to report well bring numbers and analysis as soon as they hit. Lets focus on the stories were watching with one hour left of trade. Mark santoli with the action, colin rush from oppenheimer. Lets start off with the broader market, familiar things taking us higher, tech, lower treasury yields and the like. Thats right. A bit of a reform to norm. Yesterday 3381 of about the late selloff. Of course were a couple points above that right now its kind of tantalizing also seems a little bit silly this hesita
That is higher today theres been that move into value of late. Money is coming back in as stocks are on pace for their second positive month in a row the dow is on track for its best week since early april josh brown, you can take stock in this for me weve been talking about a rotation we have talked about growth into value. On a day where you have red in a lot of place, ive got apple, amazon, microsoft, facebook and netflix and i got all of them higher today can we end the talk about a rotation out of those names . Well, i dont know if its the end but this is what has continued to happen. If you look, 29 s p 500 stocks that are up 20 on the year or more, 25 of those are up today its back to the winners 30. 25 on the s p, broadly speaking looks like a logical place to see a pause that was if you remember, resistance back in both july and september. We got through it that made sense for that old resistance to now become support. The technicians i talk to when theyre looking at internals
It was an unusual decision. A Major Telecom it gets abused. In thebinet reshuffle u. K. Takes a startling turn. Not someone walking out on the job. An exit interview with the outgoing Credit Suisse ceo. The true legacy comes after we leave. It is all straight ahead on bloomberg best. Hello and welcome. This is bloomberg best. Your weekly review of the most important Business News, analysis, and interviews from Bloomberg Television around the world. Lets start with a day by day look at the top headlines. We began with a familiar focus, assessing the spread of the coronavirus outbreak at a blessing measures to blunt its impact. Toll from theth coronavirus has now topped 900. Hubei province posted the most for talent he for one day. Medical experts from the dove you ho heading to the epicenter of the disease with the agencys chief was in concern over the spread of the virus among those with no chinese travel history. Youre seeing a cluster of new cases in france, spain and the u. K. They
Najarian many big names reporting as you can see on the board stock records set every day last week off to a pretty big day. 3m, gm, boeing, coke, bristol meyers, american airlines, alphabet, amazon, intel, a full swath of names that can really tell the next direction of this move. An incredibly important week, and, unfortunately, i have bad news for the bears out there, and that bad news is that buybacks so far in the first half of 2017 are down 16 relative to the buybacks in the first half of 2016 now, authorizations are up nearly 20 , so even if youre getting a pullback in selective sectors or the overall market. Those buybacks are coming in november before the end of the year, and its going to buffer any pullback. Josh, which names on this list are the ones that are going to matter the most thats sort of how we set up the conversation today i still think the texts are going to be the most meaningful for the overall averages just in terms of their sheer size and how important they b
Daughter sherri and the ceo and leader of viacom Phillippe Dauman. This morning he has filed a lawsuit just moments ago along with George Abrams in the massachusetts probate and family Court Challenging changes purportedly made to the trust arrangements by an attorney claiming to represent mr. Redstone. In a legal complaint, these two gentlemen, mr. Dauman and mr. Abrams who again have been removed from the trust that oversees the stake in National Amusements that in turn controls viacom and cbs, they are going to the court saying they want immediate judicial relief and a court ruling to invalidate the purported removal of them by mr. Redstone as trustees of the trust and also invalidate the removal as well as directors of National Amusements. They would assume then want him, that is mr. Redstone, to be deemed potentially incompetent and not able to make decisions. And very harshly worded language, guys, that accompanies this lawsuit. In a press release i just received Phillippe Dauman