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There’s mounting evidence that the stock market will make an extreme move higher before the year ends – here’s where to invest now
It may not look likely right now, but the stock market is poised for a big rally into the end of the year, according to Bank of America Merrill Lynch.
In fact, the firm’s strategists hold this conviction precisely because of the turmoil that has rocked stocks over the past several weeks. Investors hold painful memories of October because three of the most painful crashes ever – in 1929, 1987, and 2008 – happened then. And last month turned out to be the worst for stocks in seven years.
“October is known for sharp market declines, but also known for creating market lows that lift stocks into a year-end rally,” Mary Ann Bartels, an investment and exchange-traded-fund strategist, said in a note. “We believe that the holiday rally is underway.”
Amazon officially announces its HQ2 will be split between New York and Virginia
The company on Tuesday announced it would split its second-headquarters project, which it calls HQ2, in two. The two locations – the Long Island City neighbourhood of Queens, New York, and the newly formed National Landing area of Arlington, Virginia – will each get roughly half of the 50,000 employees promised and half of the promised investment, the company said.
“We are excited to build new headquarters in New York City and Northern Virginia,” Amazon CEO Jeff Bezos said in a statement. “These two locations will allow us to attract world-class talent that will help us to continue inventing for customers for years to come. The team did a great job selecting these sites, and we look forward to becoming an even bigger part of these communities.”
UK, EU negotiators have agreed to a Brexit deal
The UK government has confirmed reports that May’s most senior ministers will read the details of the draft agreement this evening before a special Cabinet meeting at 14:00 (GMT) on Wednesday.
An agreement between the UK and EU over how to prevent a hard border on the island of Ireland as a result of Brexit was reached during intensive negotiations held on Monday and Tuesday, sources told BI.
Brexit talks had been at an impasse for weeks over the question of how a hard border between Northern Ireland and the Republic can be avoided no matter what the outcome of negotiations.
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