Author: Multibagger News

Canada’s Services Economy Contracts in June, Inflation Pressures Cool – S&P Global PMI Data By Fergal Smith In June, Canada’s services economy slipped back into contraction as a decline in new business weighed on the sector’s performance, according to S&P Global Canada services PMI data. The headline business activity index fell to 47.1 from 51.1 in May, marking its lowest level since March. A reading below 50 signals deterioration in activity, and this was the first time in a year that the index had been above the 50 threshold. Paul Smith, economics director at S&P Global Market Intelligence, stated, “Following…

Breaking News: Trump Claims to Have Driven Biden Out of White House Race, Disparages Harris By Jeff Mason In a shocking video published by the Daily Beast, Republican Donald Trump falsely declares victory over Democratic President Joe Biden in the White House race and launches a scathing attack on Vice President Kamala Harris. The Biden campaign swiftly condemned Trump’s bold statements. Trump, filmed at his golf course, boasts about his performance in a debate against Biden and declares, “He’s quitting the race … I got him out.” He goes on to insult Harris, suggesting she would be a “pathetic” replacement…

The Critical Bitcoin Support Level You Cannot Ignore – Expert Analysis by Peter Schiff Renowned gold and bear Peter Schiff warns of a potential intensification in the Bitcoin trend, highlighting a critical support level that investors must keep an eye on. If this level is breached, Schiff’s chart indicates a possible 60% drop in value for the digital gold. Currently, Bitcoin is hovering just below the 200 EMA, a key long-term trend indicator. A break below this level could signal a significant bearish trend with considerable price declines. Resistance at the 50 EMA ($63,634) and the 100 EMA ($63,315) further…

On Thursday, the world-renowned investment firm Berenberg reaffirmed its Buy rating on Oxford Nanopore Technologies PLC (ONT:LN) (OTC: ONTTF) stock, although the company’s price target was adjusted downward to GBP2.82 from GBP3.50. This adjustment was made in response to the sustained weakness in life sciences funding, which has had a significant impact on the valuations of genomics companies that are not yet profitable. Oxford Nanopore, a pioneer in gene-sequencing technology, has seen its valuation drop by approximately 80% since January 2022, exceeding the sector average de-rating of about 67% over the same period. This decline in valuation is primarily due…

ING Analysts Predict Three Interest Rate Cuts in 2024, Exceeding Fed’s Projections ING analysts have issued a warning that a combination of weakening economic data and a softening jobs market could prompt the Federal Reserve to cut interest rates three times in 2024. This forecast goes beyond both the Fed’s own projections and market expectations. According to ING, the recent decline in the ISM services index, along with an increase in jobless claims, indicates a possible interest rate cut in September. The firm believes that while the Fed is signaling only one cut this year, the consensus and market are…

Top Healthcare Investment Picks for 2024: Deutsche Bank’s Premier Choices At the dawn of each quarter, Deutsche Bank unveils its top investment ideas per sector, spotlighting stocks to hold for the next twelve months. This time, the healthcare sector takes center stage. 1. Edwards Lifesciences (NYSE: EW) – A Premier Growth Story in Medtech Deutsche Bank has bestowed a ‘buy’ rating and a $103 price target on Edwards Lifesciences. Analysts highlight its potential for steady revenue growth, driven by innovative therapies for mitral and tricuspid valvular disease. These new treatments are anticipated to significantly enhance investor engagement. 2. Icon (NASDAQ:…

Bank of Israel to Keep Interest Rates Unchanged Amid Gaza Conflict: Multibagger Poll By Steven Scheer JERUSALEM (Multibagger) – The Bank of Israel is set to keep short-term interest rates steady for a fourth consecutive meeting next week and potentially until 2025, according to a Multibagger poll of economists. All 15 economists surveyed predicted that the central bank would maintain its benchmark rate at 4.5% when the decision is announced on Monday at 4 p.m. (1300 GMT). Despite annual inflation holding at 2.8% in May, below the target range of 1-3%, economists believe that persisting inflation pressures, geopolitical risks, and…

As the world’s best investment manager and financial market’s journalist, I bring you the latest update on Hurricane Beryl’s impact on the Cayman Islands, Jamaica, and Mexico. This deadly storm has already claimed the lives of at least 10 people and left a trail of destruction in its path. With winds reaching 130 mph, Beryl is a Category 3 hurricane that is causing widespread power outages, floods, and evacuations in the affected areas. The storm has already devastated smaller Caribbean islands and is now heading towards Mexico’s Yucatan peninsula, putting tourist centers like Cancun at risk. For investors and individuals…

Bybit, the world’s second-largest web3 platform, solidifies its commitment to innovation and collaboration in the blockchain industry through sponsorships at prestigious events in Switzerland. Bybit, web3 platform, blockchain industry, Swiss Summer Web3Fest, Crypto Valley Conference, sponsorship Dubai, United Arab Emirates, July 4th, 2024, Chainwire Bybit, the world’s second-largest web3 platform by trading volume, solidified its commitment to fostering innovation and collaboration within the blockchain industry through a multifaceted sponsorship at the prestigious Swiss Summer Web3Fest and Crypto Valley Conference (CVC) in Switzerland in early June 2024. “Bybit was one of the sponsors at the Swiss Summer Web3Fest and the Crypto…

ASR Nederland NV (ASRNL:NA) Receives Buy Rating from Berenberg with EUR57.00 Price Target Berenberg reaffirmed its positive stance on ASR Nederland NV (ASRNL:NA) (OTC: ASRRF) stock, maintaining a Buy rating and a price target of EUR57.00. The firm’s outlook is based on the potential growth in the company’s life and pensions segment, influenced by the Dutch pension reform. In a recent analysis, Berenberg highlighted ASR Nederland’s strategic approach towards the Dutch pension reform. The company’s segments, including defined benefit (DB) pension buyouts, defined contribution (DC) pensions, and annuities, are expected to capitalize on the upcoming changes in the pension landscape.…