A Merrill Lynch survey reveals that money managers are becoming more hopeful when it comes to domestic stocks - a region they have been shying away from for the past two years or so - because of forecasts for economic and profit growth, Bloomberg News reports.

"People are having a rethink about their position on U.S. equities," said David Bowers, chief global strategist at Merrill. Investors "have a deep-seated conviction that the U.S. economy will fare well," Bowers added.

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