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(Reuters) - Geneva-based Pictet Group’s asset management arm expects the S&P 500 to rise 10% from its current levels, with improving economic growth and easy monetary policy helping to extend its rally.
FILE PHOTO: People walk past the New York Stock Exchange (NYSE) amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., February 3, 2021. REUTERS/Carlo Allegri/Files
The S&P 500 has risen around 21% from its October lows, and closed on Wednesday at 3909.88 points.
“There is a risk of a melt up in a way, in the U.S. especially, and you don’t want to stand against it,” Luca Paolini, chief strategist at Pictet Asset Management, told the Reuters Global Markets Forum on Wednesday.
By Reuters Staff
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BRASILIA, Feb 11 (Reuters) - Brazil’s government will extend emergency cash transfers to the poor and vulnerable, Economy Minister Paulo Guedes said on Thursday, but they must come with compensating cost-cutting measures or the public finances could be on the path to ruin.
Addressing an online event hosted by the National Agriculture Society, Guedes said the aid could be included in an emergency “war budget” like last year, meaning the government’s spending cap and “golden rule” on borrowing would not be broken. (Reporting by Gabriel Ponte and Jamie McGeever Editing by Chris Reese)
There will be no Asia emerging market stocks and currencies report on Friday, Feb. 12, as most markets in the region will be closed for the Lunar New Year holiday.
Britain's exit from the European Union will cost the bloc around 0.5% of economic growth over the next 24 months, but Brexit will be more than four times more painful for the United Kingdom, the European Commission said on Thursday.
The European Union rejected on Wednesday most of Britain's demands for easier trade with Northern Ireland but said it was examining more flexibility on steel.