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S&P500: Alibaba IPO Stokes Market Euphoria
Global equity market are euphoric today after Scotland’s populace rejected independence, removing a major uncertainty from the global market landscape (for more on the impact of Scotland’s vote on the UK’s FTSE index, see my colleague Fawad Razaqzada’s piece from earlier today). Another cause célèbre for stocks is Alibaba’s highly-anticipated IPO, which is priced to be the largest public offering of all-time at $21.8B, dwarfing Facebook’s $16B IPO in 2012 and Visa’s $17.9B IPO in 2008 (see Galvan Research’s preview for more on the company and the IPO). Because most of its business is in China, the ... (full story)