Author: Multibagger News

Unlocking Market Potential: Wells Fargo Predicts Continued Equity Rally Amid Favorable Rate Environment Investing.com – Wells Fargo analysts have indicated that the current rally in the stock market is likely to sustain its momentum. This bullish outlook is underpinned by a favorable interest rate environment and stable inflation expectations, which are set to drive further gains. As of this week, the index has risen by 1.6%, closing at an all-time high of 5714. This surge was largely fueled by the Federal Reserve’s recent 50 basis-point rate cut, which has sparked optimism about a "soft" economic landing. Key Insights from Wells…

Canadian Retail Sales Surge by 0.9% in July, Boosted by Auto Sector Growth As the world’s top investment manager and financial market journalist, I bring you the latest news on Canadian retail sales. According to Statistics Canada, retail sales in July grew by 0.9% from June, reaching C$66.38 billion ($48.95 billion). This growth was driven by increased sales at motor vehicle and parts dealers. The agency also estimates that sales continued to rise in August, with a 0.5% increase. In July, sales improved in seven out of nine subsectors, accounting for 84.6% of retail trade. In terms of volume, retail…

BofA Securities Downgrades Lite-On Technology Corp (2301:TT) Shares to Neutral, Lowers Price Target to TWD110.00 In a recent update, BofA Securities has shifted its rating on Lite-On Technology Corp (2301:TT) shares from Buy to Neutral and decreased the price target to TWD110.00 from the previous TWD125.00. This adjustment is a result of a more cautious outlook on the company’s cooling business, with Lite-On being perceived as a late entrant to the market. Despite the downgrade, BofA Securities recognizes Lite-On’s strong position in the server power-supply sector and highlights the company’s improving margins due to an optimized product mix. The firm…

Gold Hits Record High Above $2,600 as Investors Seek Safe Haven Amid Uncertainty As the prospect of more U.S. interest rate cuts and global geo-political uncertainty continues to rise, gold has soared to a record high above $2,600 per ounce. With bullion already up more than 26% this year, investors are eyeing another milestone of $3,000 per ounce. Investing in gold can be done through various avenues: 1. Spot Market: Large buyers and institutional investors usually purchase gold from big banks, with prices determined by real-time supply and demand dynamics in hubs like London. 2. Futures Market: Investors can gain…

Title: Trump Media & Technology Group’s Shares Plummet Amid Insider Selling Frenzy: What It Means for Your Investments (Multibagger) – Shares of Trump Media & Technology Group (TMTG) nosedived 4.5% in premarket trading on Friday, continuing this week’s sharp decline following the expiration of a lock-up period on insider sales. This $2.9 billion enterprise, with a significant 57% ownership by U.S. Republican candidate Donald Trump, has seen its stock price plunge approximately 18% over the last four trading sessions. The stock is now down roughly 80% from its peak in April. Despite Trump’s recent declaration that he has no intention…

Bank of Canada Governor Warns of Potential Inflation Spike from AI Adoption In a recent speech at an AI conference in Toronto, Bank of Canada Governor Tiff Macklem highlighted the potential short-term impact of artificial intelligence (AI) adoption on inflation. Macklem pointed out that while AI technologies are currently boosting the economy, they could also lead to a surge in demand that outpaces supply, resulting in inflationary pressures. Central bankers around the world are increasingly looking to leverage AI to better predict changes in consumer prices and employment. However, Macklem emphasized the importance of understanding how AI will impact workers,…

By Catarina Demony If you thought the glitz and glamour of Harrods was all there was to it, think again. The late Egyptian billionaire Mohamed Al Fayed has been accused of sexually abusing female staff at the luxury Knightsbridge store, with allegations ranging from rape to sexual battery. Lawyers for the victims have shed light on the toxic and abusive environment that existed beneath the surface of this iconic department store. According to Gloria Allred, one of the lawyers representing the alleged victims, the abuse included serial rape, attempted rape, sexual battery, and even abuse of minors, spanning a period…

Dubai, United Arab Emirates, September 20th, 2024, Chainwire As the world’s second-largest cryptocurrency exchange by trading volume, Bybit is taking proactive measures to bolster its security infrastructure against cyber threats. By leveraging cutting-edge AI technology, Bybit successfully protected users’ assets by screening over $1 billion in withdrawal attempts in the first half of 2024, preventing the loss of over $79 million in client funds. With a focus on safeguarding both hot wallets and cold wallets, Bybit has implemented stringent verification processes to scrutinize large transactions and high-risk withdrawals. Despite detecting over $940 million in suspicious cryptocurrency withdrawals, Bybit managed to…

Genmab A/S (NASDAQ:) Receives FDA Approval for RYBREVANT in Lung Cancer Treatment – Analysts Maintain Buy Rating and $50.00 Price Target In a recent development, H.C. Wainwright has reaffirmed its Buy rating and $50.00 stock price target for Genmab A/S (NASDAQ:) following the FDA approval of RYBREVANT (amivantamab-vmjw) for the treatment of a specific type of lung cancer. The approval, in conjunction with chemotherapy, is for adult patients with advanced or metastatic non-small cell lung cancer (NSCLC) who have certain EGFR mutations and have progressed after treatment with an EGFR-targeted tyrosine kinase inhibitor (TKI). The FDA’s decision was based on…

B Riley Analysts Review: Snap and Reddit’s Investment Potential – What You Need to Know Snap’s Growing Audience and Revenue Streams B Riley analysts have recently initiated their coverage on Snap Inc. (NYSE: SNAP), highlighting the platform’s potential for substantial growth in advertising and subscription revenue. Snap’s sizable audience positions it well to capitalize on these revenue streams and enhance profitability. Key Insights: Direct-Response Advertising: Analysts expect this marketing strategy, which prompts users to take immediate action, to be the primary growth driver in the short term. Brand Advertising: Growth in brand-specific ads might lag due to competition from other…