Author: Multibagger News

“Wall Street Prepares for Negative Start as Inflation Data Looms; Paramount Global Merges with Skydance, Boeing Pleads Guilty to Criminal Charge” As the new week kicks off, investors brace themselves for a potential downturn on Wall Street. Key inflation data and testimony from Fed chief Jerome Powell are on the horizon. Paramount Global announces a merger with Skydance, while Boeing faces a hefty fine after pleading guilty to a criminal charge. 1. Futures Point to Lower Opening Ahead of Inflation Data Release The U.S. stock futures are showing a slight decline as the week begins. This comes as investors gear…

JPMorgan Slashes Emerging Market Default Forecast Amid Historic Market Recovery LONDON (Multibagger) – In a significant shift, JPMorgan has revised its forecast for emerging market (EM) corporate debt defaults, predicting a lower rate for 2024. This adjustment comes on the heels of the most substantial improvement in distressed-level market pricing since 2016. Key Highlights: Reduced Default Forecast: JPMorgan now estimates a global EM corporate default rate of 3.6%, down from 4.0%. For firms in the CEMBI Broad Diversified index, the forecast drops from 2.9% to 2.1%. Optimistic Investor Sentiment: The bank cites a notable decline in distressed EM firms—those with…

By Nell Mackenzie LONDON (Multibagger) – Discover the latest insights from a Goldman Sachs note to clients, revealing that hedge funds have significantly increased their holdings in commodity sensitive stocks during the week ending July 5. This surge in investment marks the fastest pace seen in five months, as reported by Multibagger on Monday. Despite a decrease in energy stocks last week due to Tropical Storm Beryl impacting the Caribbean, major players such as Chevron Corp (NYSE:), Exxon Mobil (NYSE:), and Shell (LON:) experienced declines ranging from 0.5% to just over 1.5%. However, energy and materials stocks emerged as top…

Breaking News: Russia Launches Rare Daytime Missile Attack on Ukraine, Killing at Least 20 By Olena Harmash and Max Hunder In a shocking turn of events, Russia launched a devastating barrage of missiles on Kyiv and other Ukrainian cities, resulting in the tragic deaths of at least 20 innocent people and causing widespread destruction. The attack, which targeted key infrastructure, commercial buildings, and even a children’s hospital, has sent shockwaves across the country. President Volodymyr Zelenskiy condemned the attack, revealing that more than 40 missiles were fired by Russian forces, causing chaos and devastation in multiple cities. The capital city…

HashKey Global Announces Listing of XRADERS (XR) with Exciting Events and Prizes Hamilton, Bermuda, July 8th, 2024 – HashKey Global, the leading licensed crypto exchange under HashKey Group, is thrilled to announce the listing of XRADERS (XR). Deposits are now open as of July 8, 2024, at 10:00 (UTC), with XR/USDT spot trading set to begin on July 11, 2024, at 8:00 (UTC), and withdrawals available from July 12, 2024, at 8:00 (UTC). Deposits and withdrawals will be facilitated via the BSC (BEP20) network. To mark this milestone, HashKey Global is launching two exciting events with a total prize pool…

The Recent Bitcoin Price Plunge: What You Need to Know As the world’s best investment manager and financial market journalist, I am here to break down the recent Bitcoin price drop and its impact on the broader cryptocurrency markets. Despite finding some support around the $55,000 level, Bitcoin fell 3.8% in the past 24 hours to $55,450.3 due to concerns over distributions by the now-defunct Mt Gox crypto exchange. Trustees for Mt Gox have begun distributing tokens to clients affected by a 2014 hack, leading to fears of massive selling pressure on Bitcoin as recipients may be encouraged to sell…

Oppenheimer Boosts S&P 500 Year-End Target to $5,900 Amid Strong Earnings and Economic Resilience In a strategic move that has caught the attention of investors, Oppenheimer has raised its year-end target price for the S&P 500 to $5,900, up from the previously set $5,500. This marks the third revision for 2024, with the initial target being $5,200 set last December 11. Key Drivers Behind the Bullish Outlook Oppenheimer’s upward revision is largely supported by robust earnings results from the S&P 500 over the past three quarterly reporting periods. Additionally, economic indicators suggest a resilient economy, bolstered by the Federal Reserve’s…

JAKARTA (Multibagger) – Indonesia’s central bank governor indicated on Monday that there may be an opportunity for an interest rate cut in the fourth quarter as the rupiah is projected to become more stable. However, the focus currently remains on maintaining currency stability. The rupiah recently reached a four-year low of 16,475 per U.S. dollar amidst a strong dollar and concerns about the spending plans of the incoming government. Following periods of weakness, the rupiah is now showing signs of stabilization and is expected to strengthen later in the year, partly due to an anticipated rate cut by the U.S.…

Is President Biden’s Re-Election Bid in Trouble After Debate? UBS Analysts Weigh In President Biden’s lackluster performance in the recent debate with Donald Trump has raised concerns within the Democratic party. Despite calls for him to step aside, Biden remains determined to seek re-election. However, his national poll numbers have declined, with a recent survey showing him trailing Trump by 5-6 points. UBS strategists believe Biden’s path to a second term was already narrow before the debate, and they are eagerly awaiting new state-by-state polls. Until Biden makes a final decision, speculation on hypothetical matchups with Trump and other contenders…

Date: July 8th, 2024 Location: Kuala Lumpur, Malaysia If you’re looking for the next big thing in decentralized finance (DeFi), look no further than Lavarage. This cutting-edge platform just announced its public launch at the Summit APAC in Kuala Lumpur, and it’s set to revolutionize the way we think about spot margin trading. What sets Lavarage apart is its unique approach to enhancing capital efficiency for DeFi trading. With a focus on usability and a team of seasoned financial market veterans, product designers, and blockchain engineers, Lavarage is paving the way for the future of decentralized trading. The Lavarage Edge:…