Author: Multibagger News

As the world’s leading investment manager and financial market journalist, I bring you the latest update on oil prices. Despite a four-week climb, prices saw a slight decrease on Monday due to easing worries about supply disruptions in Gaza. However, the potential impact of Hurricane Beryl on supplies kept the slide in check. As of 1230 GMT, oil futures were down 0.5% at $86.12 a barrel, while U.S. West Texas Intermediate (WTI) crude stood at $82.64 a barrel, down 0.63%. Ceasefire talks in Gaza, mediated by Qatar and Egypt, could potentially reduce the geopolitical bid in the market, according to…

By the World’s Best Investment Manager, Financial Market’s Journalist, and SEO Mastermind The Texas energy industry is facing a major threat from Hurricane Beryl, which has forced the closure of key oil and gas shipping ports, slowed refining operations, and led to the evacuation of production sites. Beryl made landfall near Matagorda, Texas, with sustained winds of 80 mph, causing disruptions in the heart of the country’s energy sector. Texas, known for producing the most oil and gas in the United States, is heavily impacted by the storm. As of Monday morning, almost 490,000 homes and businesses were without power…

**Guggenheim Downgrades ServiceNow (NOW) to Sell: Is a Market Correction Looming?** Guggenheim analysts have issued a downgrade for ServiceNow (NYSE: NOW), shifting their rating from Neutral to Sell, and have set a price target of $640. While the investment firm anticipates satisfactory results for ServiceNow’s Q2 2024, they express concerns about the second half of 2024, particularly around consensus Subscription expectations. Analysts highlight that the current stock valuation, trading at 15x EV/NTM likely recurring revenue, poses significant downside risk. “ServiceNow anticipates an uptick in GenAI business in the second half, but our field research suggests this may not occur until…

By Kevin Buckland and Amanda Cooper In the latest market news, the euro has steadied on Monday, recovering from overnight losses that were caused by projections from France’s election indicating a hung parliament. Meanwhile, the dollar remains soft. Following unexpectedly weak U.S. payrolls data on Friday, the dollar has been on the back foot, leading to increased speculation that the Federal Reserve may soon begin cutting interest rates. Sterling has surged to 3-1/2 week highs against both the dollar and the euro, continuing its upward momentum after the Labour Party’s landslide victory last week, ending 14 years of Conservative rule.…

By Simon Lewis, Andrea Shalal and Andrew Gray Leaders of NATO member states gather in Washington this week to strengthen support for Ukraine while facing the challenge of a possible comeback by former U.S. President Donald Trump. Host Joe Biden stumbled in a recent debate, boosting Trump’s popularity ahead of a crucial election that could shake up Washington’s foreign policy. Political uncertainty in Europe adds another layer of complexity, with France and Germany facing internal hurdles that could impact NATO’s agenda. The NATO summit, marking the alliance’s 75th anniversary, was initially meant to highlight unity against Russian aggression in Ukraine.…

Title: Jefferies Analysts Cut Price Targets for Marathon Digital and Argo Blockchain Post Bitcoin Halving Impact As the world’s best investment manager and financial market journalist, I bring you the latest updates on Marathon Digital and Argo Blockchain Plc. Jefferies analysts have revised their price targets for these companies due to the ongoing effects of the Bitcoin halving event. Despite a slight recovery in June, challenges persist for these mining companies. The report also covers recent merger and acquisition activities in the industry, such as Riot Blockchain’s failed acquisition attempt of Bitfarms and Cleanspark’s successful acquisition of GRIID Infrastructure. Additionally,…

Treasure Global Inc (NASDAQ: TGL) Announces Acquisition of Who Knows Wins Ltd, Boosting US Market Presence In a strategic move to expand its reach in the US market, Treasure Global Inc has announced its intention to acquire 100% of the shares of Who Knows Wins Ltd, a UK-based online social sports platform. This acquisition is in line with Treasure Global’s goal of utilizing innovative technologies to drive revenue growth and market expansion. Who Knows Wins is known for its robust technology platform that allows users to predict the outcomes of sporting events. With over 65,000 registered users, the platform offers…

Investment Manager’s Perspective: House Democrats Express Concerns About Biden’s Re-Election Bid As lawmakers reconvene in Washington D.C. after the July 4 holiday week, close to 10 House Democrats have voiced their doubts about President Joe Biden seeking re-election. Reports suggest that Senator Mark Warner of Virginia is rallying Senate Democrats to support this stance, despite Biden being the presumptive Democratic nominee for now. In an interview with ABC News, concerns about Biden’s acuity were not fully addressed, leading to speculation about his fitness for office. The return of lawmakers to the capital is seen as a crucial moment that could…

The financial markets were rocked on Monday as Hurricane Beryl wreaked havoc on Texas, causing oil ports to shut down, flights to be canceled, and leaving homes and businesses without power. Beryl, the earliest Category 5 hurricane on record, made landfall near Matagorda, Texas, unleashing dangerous storm surges and heavy rain. The energy industry in Texas, the largest oil-producing state in the U.S., braced for impact as Beryl disrupted refining activities and forced some production sites to evacuate. The National Hurricane Center warned of life-threatening storm surge and heavy rainfall, urging residents to take precautions. As the storm weakened while…

China’s Smartphone Market Soars: iPhone Outshines Android and Huawei – What It Means for Your Investments China’s smartphone volume has demonstrated impressive year-over-year growth, largely propelled by substantial discounts during the 618 sales promotions, according to a recent report from Jefferies. Key Insights from Jefferies’ Analysis Jefferies’ industry checks reveal that while smartphone volumes dipped by low double digits sequentially, they still managed to achieve high single-digit growth year-over-year. This uptick is attributed to high single-digit gains in Android and Huawei (HW) devices and low double-digit gains in iPhone sales. Remarkably, iPhone sales outperformed both Android and HW during the…