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Data: Investing.com; Chart: Axios Visuals

J.P. Morgan Chase is close to winning the lead advisory role for state-owned oil company Saudi Aramco's IPO, which is expected to be the largest ever at $25 billion. A final decision is expected next week, CNBC reports, citing inside sources.

What's happening: Saudi authorities reportedly plan to sell 5% of Aramco’s shares on the local Tadawul stock exchange and launch another, much larger, offering in a foreign market in the next 2 years.

  • Rumors have swirled about which location will get the much larger listing, with Tokyo most recently reported as the favored destination.
  • The exchange's CEO promised last year shares of Aramco listed on the Tadawul would be limited so as not to overwhelm the $500 billion bourse with Aramco's $2 trillion market value.

Of note: The Tadawul was recently incorporated into MSCI's emerging markets index, which has brought billions of dollars to the exchange so far this year.

  • From the start of 2019 through the end of July, foreign investors have accounted for 21% of total trading, reaching $56 billion, according to an August exchange filing.
  • The Saudi index had risen nearly 20% at its peak in May, Reuters reported.
  • However, the index has seen a steep slide since, due to geopolitical worries and the trade war, and is up 2.5% year-to-date.

Go deeper: Saudi Arabia's oil minister is out in a major shake-up

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The Justice Department and 11 states Tuesday filed an antitrust lawsuit against Google, accusing the company of using anticompetitive tactics to illegally monopolize the online search and search advertising markets.

Why it matters: The long-awaited suit is Washington's first major blow against the tech giants that many on both the right and left argue have grown too large and powerful. Still, this is just step one in what could be a lengthy and messy court battle.

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In photos: Florida breaks record for in-person early voting

Voters wait in line at John F. Kennedy Public Library in Hialeah, Florida on Oct. 19. Photo: Eva Marie Uzcategui/AFP via Getty Images

More Floridians cast early ballots for the 2020 election on Monday than in the first day of in-person early voting in 2016, shattering the previous record by over 50,000 votes, Politico reports.

The big picture: Voters have already cast over 31 million ballots in early voting states as of Tuesday, per the U.S. Elections Project database by Michael McDonald, an elections expert at the University of Florida.