While you were sleeping: US recovery not complete

Tue, 15 Jul 2014

By Margreet Dietz July 16 (BusinessDesk) - Shares of JPMorgan Chase and Goldman Sachs advanced after the banks reported better-than-expected earnings, though Wall Street overall was struggling to extend its rally. Spoiling the party was US Federal Reserve policy makers’ concern about valuations of some social media and biotechnology companies. “Valuation metrics in some sectors do appear substantially stretched—particularly those for smaller firms in the social media and biotechnology industries, despite a notable downturn in equity pr...

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