There is a slightly cautious mood that is taking over financial markets as we move into the final day of the week. This comes despite the fact that Wall Street just managed to claw out yet another all-time closing high last night as the S&P 500 edges ever closer to the magical 2000 level. However the news that the IMF had downgraded its global growth outlook for 2014 from 3.7% in April to 3.4%, could encourage a bit of profit-taking after some recent positive moves on equities. The IMF cited the geopolitical concerns of Ukraine and Iraq in addition to reduced expectations for emerging economies for its downgrade. ... (full story)