What you need to know on Wall Street today

pulse

November 20, 2017 6:23 PM

Hello. Here's what you need to know on Wall Street today.

Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox.

While manystockbulls have for months focused on positive corporate fundamentals — most notably earnings growth — equities have also benefited from how appealing they look compared with other assets.

Treasury notes issued by the US government are yielding roughly 2.36%. And while that's above a multi-month low of 2.04% reached in September, it's still down from highs reached earlier this year.

If the yield for the10-year benchmarknote climbs above the crucial threshold of 2.5% that could start working against US stocks that are already close to the most expensive since the dot-com bubble, according to strategists at Societe Generale. For more on that story, click here.

In other markets news and views, there's a new biggest bull on Wall Street. There are three things that could destroy one of the greatest stock rallies of all time, according to Morgan Stanley. And a key recession indicator is getting closer to the danger zone — and the Fed can't ignore it.

On Wall Street, Goldman Sachs has struck a deal with Bloomberg to help its stock trading business. And we asked a top hedge fund recruiter what it takes to get a senior-level job these days.

In deal news, Marvell Technology will buy rival chipmaker Cavium for $6 billion. And Alibaba took a $2.9 billion stake in China's biggest grocer.

Lastly, says he should take it "as a compliment" that people compared him to a James Bond villain.

pulse