28 | 07 | 2014
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Breaking Financial Market News
  • Asian stocks shrugged off a drop in Wall Street and hovered near three-year highs on Monday, with China taking the lead after data showed a robust jump in profits earned by industrial firms in the world's second-largest economy. The two-day Federal Reserve policy review ending on Wednesday was also in focus but expectations were for Chair Janet Yellen to deliver the usual dovish message.

  • As a result of the questioning regarding potential conflicts of interest, the New York-based bank has sharpened its disclosures to clients, the newspaper said, citing sources. The Office of the Comptroller of the Currency, one of JP Morgan's regulators, has been in discussions with the bank regarding the potential conflicts of interest in recent months, according to the report. "Being transparent is part of our normal course of business and it's what drives our client communications," Darin Oduyoye, a spokesman for JP Morgan's asset-management unit, told Reuters on Sunday. If brokers push clients to buy the in-house brand of financial product, rather than provide impartial financial advice, the bank could stand to benefit at the expense of the client.

  • Pfizer Inc's vulnerability to cheaper generics and its weak roster of experimental medicines will be on display Tuesday when the company reports quarterly earnings, reviving interest in its pursuit of AstraZeneca Plc or other deals to fortify its pipeline. While many industry watchers expect Pfizer to re-engage with Britain's AstraZeneca in coming months, some say the U.S. drugmaker should consider targets more focused on biotechnology, a strategy that has paid off for Merck & Co and Bristol-Myers Squibb Co. Although Pfizer is conducting trials of promising products - including breast cancer drug palbociclib and vaccines against meningitis and staph aureus - it needs far more drugs to generate meaningful sales growth, said Ori Hershkovitz, analyst with the Tel Aviv-based Sphera Fund, which holds Pfizer shares.     "Pfizer is in a very desperate spot, having seen most of its pipeline disappoint and facing multiple patent expirations," he said.

  • Next week will be huge for the big-macro picture. Tuesday and Wednesday mark the FOMC meeting and statement, real GDP for the second quarter is released at 8:30am on Wednesday and July employment numbers come out at 8:30am ET on Friday. Yahoo Finance’s boldest and brightest joined Lauren Lyster to discuss and preview some of the biggest events of the last week in July.

  • Company provided 401(k) plans are a fantastic perk, but not all are created equal. Peggy Collins of Bloomberg News spent six months researching company filings and has come up with a list of the best, and worst, company 401(K) plans.