Is Rupert Murdoch’s play to buy Time Warner calling a market top?
This chart from UBS’s Art Cashin, which comes to us from CNBC’s Sara Eisen on Twitter, shows the last two major acquisitions by Murdoch’s media company and the ensuing reaction in the stock market.
The Dow and S&P 500 are currently near record highs, and the Fed is close to ending its QE program, which many have attributed to the rise in the stock market.
And so now, we wait.
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