US

A string of fines and legal costs has obscured banks' true earning power in recent years. Moreover, banks are now run by prudent risk managers, argues Tony Coniaris from Harris Associates.

Shares in UK-listed pharmaceutical giants Shire and AstraZeneca have fallen sharply this morning, after the US Treasury introduced a new law to curb tax avoidance by US companies which buy overseas rivals.

Steam came out of US technology stocks earlier this year, as investors pricked at what may have been a bubble. FOURPOINTS' Benoît Flamant analyses the sector's prospects five months on.

The S&P 500 index fell on Monday, after the latest US housing data came in weaker than expected, fuelling concerns over the strength of the economic recovery.

Last week, the S&P 500 soared past the 2,000 mark for the first time, surprising those who had expected a reversal of some of the 30% gain seen in 2013.

Contrary to the concerns of some investors, US equities are not overvalued, says Hector Kilpatrick, from Cornelian Asset Management

The US market has confounded some observers this year. After such strong performance in 2013, when the market rose just shy of 30%, many commentators had written the market off or at least condemned it to underperformance in 2014.

Substantial risks do remain in the US market, but steer clear of cyclical sectors and it should be plain sailing, argues Carmignac Gestion's Sandra Crowl.

The US' two main markets climbed to record highs on Thursday, driven by better than expected jobs data.

US EQUITIES