Central bank stimulus says stocks go higher through end of 2012

Call it a tug of war between fear of the consequences of the U.S. fiscal cliff and hopes that a wave of stimulus from the Federal Reserve and the Bank of Japan will drive stock prices higher. On the one side the Fed’s promise to buy $85 billion a month in Treasuries and mortgage-backed securities, and severe political pressure on the Bank of Japan to turn on the monetary pumps. On the other, worries about the U.S.fiscal cliff

Good manufacturing news in China sends Shanghai up 4.3%

Factories are humming, according to data released from China and the United States today. The preliminary readings—what’s called the “flash reading–for the purchasing managers index from HSBC Holdings and Markit Economics showed that the Chinese economy expanded that month faster than economists had expected.

Novartis has one fat drug pipeline

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