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    Analysts say bet on stocks like Anaplan and Repay

    Frank Calderoni, CEO of Anaplan. Adam Jeffery | CNBC In the final leg of 2020, stocks have delivered a record-breaking rally. The Dow Jones Industrial Average recently closed above 30,000 for the first time, with the other major U.S. stock indexes hovering close to record highs. Encouraging updates on the advancement of a coronavirus vaccine prompted an investor rotation into cyclical stocks, which tend to outperform during periods of economic recovery. “Although 30,000 isn’t much different than 29,999, there is something special about those big milestone numbers… This is yet another reminder of how far stocks and the economy have come since the depths of March,” chief market strategist for…

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    Huge November gains may make the usual year-end ‘Santa Claus rally’ less likely

    Santa Claus pays a visit on the floor at the New York Stock Exchange. Brendan Mcdermid | Reuters A big year-end rally? Don’t get too excited yet. December is traditionally an up month: Since 1945, the S&P 500 rose nearly 1.5{a87f602f9b65d268d2531d6307ed39cfde24e475374069973d0be7fc923da513} in all Decembers and advanced in price 73{a87f602f9b65d268d2531d6307ed39cfde24e475374069973d0be7fc923da513} of the time, according to Sam Stovall at CFRA Research. But hopes for the usual “Santa Claus rally” may have to be tempered a bit this year. For one, there is the powerful November rally. The S&P 500 in November is closing up 11.2{a87f602f9b65d268d2531d6307ed39cfde24e475374069973d0be7fc923da513}, the fourth biggest gain of all time but only the second biggest gain this year, after April, with…

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    Goldman Sachs bankers using drones to help clinch M&A deals

    Richard Newstead | Moment | Getty Images Drones have arrived on Wall Street. Goldman Sachs, the world’s top mergers advisor, is among investment banks using drone technology to give its clients a bird’s-eye view of the companies they are bidding on, according to Stephan Feldgoise, the firm’s global co-head of mergers and acquisitions. After Covid-19 made the prospect of hosting in-person visits with groups of bidders unsafe, commercial-grade drones have been used to conduct virtual tours of everything from shipping ports and railroads to chemical factories, warehouses and big-box retail locations, he said. “We have been selling asset-based businesses all over the world using drones for site visits and fly-overs,”…

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    SpaceX plans for Starship test flight next week, which Elon Musk gives 1-in-3 odds of landing intact

    SpaceX prototype rocket Starship SN8 stands on the company’s launchpad in Boca Chica, Texas before an engine test. @LabPadre SpaceX is aiming to launch its latest Starship rocket prototype as early as “next week,” CEO Elon Musk said on Tuesday, in what would be the company’s most ambitious flight test of the rocket to date. Musk confirmed that Starship prototype Serial Number 8, or SN8, successfully completed a test firing of its three engines ahead of the flight attempt. This next launch is aiming to reach about 50,000 feet altitude – well above the 500 foot flights of the prototype’s predecessors SN5 and SN6, which completed flight tests on Aug.…

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    The market is looking for clues from the Fed on whether it will adjust bond buying

    U.S. Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell are seated to testify before a House Financial Services Committee hearing on oversight of the Treasury Department’s and Federal Reserve’s coronavirus disease (COVID-19) pandemic response on Capitol Hill in Washington, U.S., September 22, 2020. Joshua Roberts | Reuters The Federal Reserve could provide clues about its bond buying program when it releases its minutes Wednesday, but the odds the central bank takes action at its December meeting have fallen slightly with the expected nomination of Janet Yellen as Treasury Secretary. Minutes from the Fed’s last meeting are released Wednesday at 2 p.m. ET. The Fed talked about possible ways…

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