Author: Multibagger News

Investing.com– Bitcoin price fell sharply to a two-month low on Thursday, breaking past a key support level as uncertainty over several points of selling pressure, chiefly defunct exchange Mt Gox, saw traders remain averse towards the token.  The world’s biggest cryptocurrency took little support from weakness in the dollar, which fell amid increased bets on interest rate cuts by the Federal Reserve. Broader crypto prices also followed Bitcoin lower. fell 3.2% in the past 24 hours to $59,046.0 by 23:37 ET (03:37 GMT). The token had fallen as far as $58,055.4. Mt Gox, dumping fears batter Bitcoin Bitcoin was nursing…

(Multibagger) -AbbVie lowered its 2024 adjusted profit forecast on Wednesday, citing $937 million in milestones, and research and development expenses related to acquisitions. The drugmaker has been focusing on expanding its pipeline since its blockbuster arthritis drug, Humira, lost patent protection last year. The company expects annual adjusted profit in the range of $10.61 to $10.81 per share, compared with its previous forecast of $11.13 to $11.33, a regulatory filing showed. Analysts were expecting $11.25 per share, according to LSEG data. AbbVie (NYSE:) also cut its second-quarter adjusted profit to $2.53 to $2.57 per share from $3.05 to $3.09. The…

Investing.com– Most Asian currencies firmed on Thursday as increased expectations of interest rate cuts by the Federal Reserve dented the dollar, while a fragile yen kept traders on guard over potential government intervention. But gains in Asian currencies were tempered by hawkish signals from the minutes of the Fed’s June meeting, while anticipation of key payrolls data on Friday also kept sentiment cautious. Japanese yen gains some ground, but intervention concerns remain The Japanese yen took some relief from weakness in the dollar, with the pair falling 0.2% after nearly crossing the 162 level on Wednesday.  The pair was trading…

(Multibagger) -Amazon.com said on Wednesday it would discontinue its security robot, Astro for Business, for small- and medium-sized businesses as it shifts its focus to household robots. The e-commerce giant initially launched the canine-like robot for household use in 2021. Astro for Business was launched last November for a range of customers including retail, manufacturing, health and wellness. “To accelerate our progress and ongoing research to make Astro the best in-home robot, we’ve made the decision to wind down support for Astro for Business,” an Amazon (NASDAQ:) spokesperson told Multibagger in an emailed statement. The home robot was designed to…

By Wayne Cole SYDNEY (Multibagger) – Asia stocks hit 27-month highs on Thursday as softer U.S. data narrowed the odds on a September rate cut there, boosting bonds and commodities while dragging on the dollar. A holiday in the United States made for thin trading, as investors waited to see just how large a majority the Labour Party might get in the UK election. Markets are well prepared for a change given opinion polls have for months put the centre-left party on course for a landslide victory over the Conservatives. “The Labour party has relatively modest tax and spending plans,…

WASHINGTON (Multibagger) -The Democratic governors of New York, Minnesota and Maryland on Wednesday said they would support President Joe Biden’s reelection bid after a candid discussion with him about his weak performance in last week’s debate. “The president has always had our backs. We’re going to have his back as well,” Maryland Governor Wes Moore told reporters after a meeting with Biden and Vice President Kamala Harris at the White House that included 24 Democratic governors and the mayor of Washington, D.C., some joining online. Moore said the governors were frank in relaying negative feedback from constituents about Biden’s poor…

By Katya Golubkova TOKYO (Multibagger) – Oil prices fell in early trade on Thursday after U.S. employment and business activity data came in weaker than expected, in signs the economy may be cooling in the world’s top oil consuming nation. futures were down 30 cents, or 0.34%, at $87.04 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell 32 cents, or 0.38%, to $83.56 by 0030 GMT, with activity thinned by the U.S. Fourth of July holiday. In the United States, data on Wednesday showed first-time applications for U.S. unemployment benefits increased last week, while the number of…

Investing.com– Australia’s trade balance shrank more than expected in May, as commodity exports from the country remained weak, while some resilience in local demand saw imports grow steadily.  fell to a surplus of A$5.77 billion, data from the Australian Bureau of Statistics showed on Thursday. The reading was weaker than expectations for a surplus of A$6.2 billion, and fell from the A$6.0.3 billion surplus logged in April, which was revised lower on Thursday. grew 3.9% month-on-month in May after falling sharply in the prior month. But exports of Australia’s key commodities, particularly iron ore and other metals, remained languid as…

By Nandita Bose, Andrea Shalal and Jeff Mason WASHINGTON (Multibagger) -U.S. President Joe Biden vowed to stay in the 2024 presidential race during calls with campaign staff and meetings with Democratic lawmakers and governors on Wednesday, as he sought to shake off calls for him to drop out after his shaky debate performance last week. Biden dialed in to a call with worried members of his campaign team and told them he wasn’t going anywhere, according to two sources familiar with the call. “No one is pushing me out. I’m not leaving. I’m in this race to the end,” Biden…

Investing.com– Oil prices fell from two-month highs in Asian trade on Thursday, as traders collected some profits from a strong run-up this week, while soft U.S. economic data raised some concerns over long-term demand. But prices were still relatively buoyant after a substantially bigger-than-expected drawdown in U.S. inventories, while persistent conflict in the Middle East also kept a risk premium in play. expiring in September fell 0.3% to $87.05 a barrel, while fell 0.3% to $82.76 a barrel by 20:32 ET (00:32 GMT).  Weakness in crude came following some weak labor market and purchasing managers index indicators, which signaled some…