Author: Multibagger News

Goldman Sachs Predicts Fed Will Cut Interest Rates in September, Boosting Confidence in Market Outlook Goldman Sachs economists are increasingly confident that the Federal Reserve will begin cutting interest rates in September, following recent comments by chairman Jerome Powell. In his testimony before Congress, Powell hinted at the possibility of a rate cut, emphasizing the need for more favorable inflation data to support the decision. Powell also highlighted risks to the labor market, mentioning the potential for unexpected weakening that could prompt the Fed to take action. He noted that the labor market has shown significant softening, urging the FOMC…

Biden Faces Democratic Opposition as Calls to End Reelection Bid Mount In a surprising turn of events, Democratic members of Congress are urging President Joe Biden to withdraw from the 2024 reelection race amidst concerns about his mental acuity. The pressure is mounting as more lawmakers join the chorus of voices calling for Biden to step aside. The campaign has been struggling since Biden’s lackluster debate performance against Republican rival Donald Trump, leading to doubts about his ability to secure another term in the White House. Despite these setbacks, Biden’s team remains optimistic and is working to shift the focus…

Looking for the latest updates in the world of cryptocurrency? Look no further! Check out the top three news stories in the crypto market over the past day. Binance CEO Faces SHIB Army’s Pleading to Start Burning SHIB, Here’s Why The recent post by Binance CEO Richard Teng on ETFs and Bitcoin has caught the attention of the SHIB army. SHIB enthusiasts are now urging Binance to start burning SHIB tokens, similar to how they’ve been burning LUNC tokens. Could this be the next move for Binance? Bitcoin Miners are Capitulating, But There’s a Silver Lining CryptoQuant CEO Ki Young…

SINTX Technologies, Inc. (NASDAQ:), a leading company in surgical and medical instruments, has made a significant announcement regarding the termination of its at-the-market (ATM) equity offering as of March 22, 2024. This decision comes after the company had previously entered into an Equity Distribution Agreement with Maxim Group LLC in February 2021, with subsequent amendments in January and October 2023, allowing for the sale of common stock up to $15 million. The Salt Lake City-based company, incorporated in Delaware, registered sales under the ATM Agreement for an aggregate offering price of $3,115,475. These shares will be sold in accordance with…

The Ultimate Guide to Investing: US Stocks Fall Despite Cooling Inflation Data In a surprising turn of events, US stocks fell on Thursday, despite cooling inflation data that pointed to a potential slowdown in the US economy. The S&P 500 retreated from its record-setting level to close at 5,584.54, while the Dow Jones Industrial Average also saw a decline, ending at 18,283.41. On the other hand, the Nasdaq edged up slightly, closing at 39,753.75. Small-cap stocks experienced a significant rally, fueled by expectations of a Federal Reserve rate cut in September and hopes for an economic soft landing. Following the…

Culper Research Exposes Potential Overvaluation of Iris Energy Ltd: What Investors Need to Know In a recent research note released on Thursday, Culper Research has raised significant concerns about Iris Energy Ltd (NASDAQ: IREN), a company that originally specialized in bitcoin mining but is now attempting to rebrand itself as a high-performance computing (HPC) data center operator. Superficial Rebranding? Culper Research contends that Iris Energy’s shift towards HPC is more cosmetic than substantial. Their analysis suggests that the company lacks the necessary infrastructure and expertise to thrive in this new field without considerable additional investment. Facility Inadequacies A critical examination…

Republican Senators raised doubts about Christy Goldsmith Romero’s qualifications to lead the FDIC, but did not indicate a strong opposition during a recent hearing. Goldsmith Romero, a Democratic member of the Commodity Futures Trading Commission, has been nominated by President Biden to replace Martin Gruenberg, who is stepping down amid misconduct allegations. During the hearing, Goldsmith Romero defended her experience and vowed to overhaul the FDIC. She also expressed willingness to reconsider proposed bank capital hikes, which could benefit banks seeking changes to the regulations. The FDIC plays a crucial role in overseeing banks and setting new rules for the…

Actor George Clooney Urges President Biden to Withdraw from 2024 Presidential Race – Hollywood’s Growing Concerns In a recent New York Times op-ed, actor George Clooney called for President Joe Biden to step back from the 2024 presidential race, citing concerns about his age and ability to lead effectively. Clooney’s remarks have sparked a debate within the Democratic Party, with other Hollywood elites expressing similar doubts about Biden’s candidacy. Clooney pointed out that he noticed a significant difference in Biden’s energy and charisma compared to previous years, raising questions about his viability as a candidate. Other prominent figures like Michael…

Jeff Bezos Sells $452 Million Worth of Amazon Shares – What Does This Mean for Investors? In recent filings, Amazon.com Inc’s Executive Chair, Jeffrey P. Bezos, has sold a substantial number of shares in the company, totaling over $452 million. These transactions were part of a prearranged trading plan and were disclosed in a Form 4 filing with the Securities and Exchange Commission. Investors often look at insider trades like these to gauge confidence in a company’s future prospects. While the reasons for such sales vary, they provide insight into the company’s financial health and potential investment value. Despite the…

Breaking News: Rosenblatt Raises Broadcom (NASDAQ: AVGO) Price Target to $2,400 Ahead of Stock Split Rosenblatt has just raised its price target on Broadcom (NASDAQ: AVGO) to an impressive $2,400 from $1,650, setting a new Street target high for the stock. This bullish upgrade comes just in time before Broadcom’s 10-for-1 stock split next week. “We are rolling out FY26 estimates that support high-teens sales growth and $75 Non-GAAP EPS, driven by continued AI infrastructure networking/ASIC momentum and improved synergies in enterprise software,” stated Rosenblatt, showcasing confidence in Broadcom’s future performance. Furthermore, the firm praised Broadcom’s execution, highlighting its “remarkable…