Author: Multibagger News

Citi Economists Analyze August Retail Sales Data, Anticipate Federal Reserve Rate Cut In a recent analysis, Citi economists reported a 0.1% month-over-month increase in retail sales for August, with nonstore sales driving a 0.3% rise in control group sales. Despite this growth, market expectations for the Federal Reserve’s rate decision remain unchanged, with a 25 basis point cut expected at the upcoming meeting. The economists predict a total of 125 basis points in rate cuts for the year due to anticipated labor market softness. The August retail sales figures showed resilience, particularly in auto sales, which declined less than expected.…

Wall Street Rallies Ahead of Crucial Fed Decision; Retail Sales Boost Economic Optimism By Johann M. Cherian and Purvi Agarwal (Multibagger) – Major Wall Street Indexes Surge as Retail Sales Data and Fed Anticipations Drive Market Optimism Wall Street’s primary indexes experienced a notable rise on Tuesday, with the benchmark indices nearing their intraday record highs. This surge comes as investors eagerly await a pivotal Federal Reserve policy decision while fresh economic data has eased concerns over a sharp slowdown in the U.S. economy. Key Highlights: Retail Sales Data: A Commerce Department report highlighted an unexpected rise in retail sales…

Breaking News: US Retail Sales Unexpectedly Rise in August, Easing Economic Slowdown Fears Ahead of Fed Decision In a surprising turn of events, US retail sales saw a slight increase in August, calming worries about a potential economic slowdown just before the Federal Reserve’s upcoming interest rate decision. The Commerce Department’s Census Bureau reported a 0.1% uptick in retail sales, slightly lower than July’s 1.1% growth. Analysts had predicted a 0.2% decline, but the actual numbers exceeded expectations. The core retail sales, excluding certain categories, also showed a positive trend, indicating a potential boost in the gross domestic product (GDP)…

Breaking News: 12-Year-Old Boy Stabs Multiple Students and Teacher at School in Portugal In a shocking incident, a 12-year-old boy has stabbed and wounded at least five other pupils and a teacher at a school in Portugal. The young attacker was taken into custody by police following the incident. Fortunately, none of the victims sustained life-threatening injuries, but one girl was taken to the hospital in serious condition. The attack took place in the town of Azambuja, located 50 km northeast of Lisbon. The motive behind the attack remains unclear at this time. According to Azambuja Mayor Silvino Lucio, the…

Breaking News: BlackRock’s iShares Bitcoin Trust (IBIT) ETF Sees First Inflow in 3 Weeks, Pulls Market Into Green In a surprising turn of events, BlackRock’s iShares Bitcoin Trust (IBIT) ETF has finally seen a positive inflow after three weeks of no activity. The cumulative inflow of $15.8 million has not only boosted the IBIT but also lifted the entire ETF market into the green. According to data from Farside Investors, BlackRock’s IBIT outperformed its competitors in terms of net inflows, with $15.8 million pouring in. Only a few other asset managers managed to register positive inflows, including Fidelity (FBTC) with…

Fortress Transportation (NASDAQ: FTAIN) Stock Hits 52-Week High at $26.21: InvestingPro Analysis Fortress Transportation and Infrastructure Investors LLC (FTAIN) has reached a significant milestone with its stock price surging to a 52-week high of $26.21. This achievement highlights the strong market performance of the company, with a notable 1-year change of 11.85%. Investors are showing increased confidence in the firm’s growth prospects, propelling the stock to this new peak. InvestingPro Insights: – Market capitalization of $12.98 billion showcases the company’s substantial size in the sector. – High Price / Book ratio of 56.48 may indicate an expensive stock relative to…

SEC Slaps $1.3M Fines on 12 Municipal Advisors for Record-Keeping Failures SEC Fines 12 Municipal Advisors Over $1.3 Million for Record-Keeping Violations In a significant move to uphold transparency and compliance in the financial sector, the U.S. Securities and Exchange Commission (SEC) has imposed fines totaling over $1.3 million on 12 municipal advisory firms. The penalties are a response to the firms’ failure to preserve crucial electronic communications, such as text messages, that are essential for regulatory oversight. Key Highlights: Total Fines: $1.3 million Number of Firms Penalized: 12 Largest Individual Fines: Kaufman Hall & Associates and Ponder & Co:…

Top U.S. Consumer Finance Regulator Cracks Down on Overdraft Fees: What You Need to Know In a move to protect consumers, the U.S. Consumer Financial Protection Bureau has issued legal guidance to prevent banks from charging overdraft fees without genuine consent. Federal law prohibits overdraft fees on ATM and one-time debit card transactions unless customers have explicitly agreed, but the CFPB has uncovered cases of “phantom opt-in” agreements. The new guidance, while not a regulation, clarifies the agency’s interpretation of existing laws and represents its latest effort to rein in excessive fees in the consumer banking industry. CFPB Director Rohit…

“Shogun” Wins Big at Emmy Awards, Netflix’s “Baby Reindeer” Named Best Limited Series In a surprising turn of events at Sunday’s Emmy Awards, “Shogun” emerged as the best drama winner, while “Hacks” upset defending comedy champion “The Bear.” The historical epic set in imperial Japan took home a total of 18 awards, including acting accolades for Hiroyuki Sanada and Anna Sawai, making them the first Japanese actors to win in their categories. Netflix’s “Baby Reindeer,” a chilling tale of a bartender being stalked, was named the best limited series. The wins for “Shogun” helped FX owner Walt Disney earn a…

“iOS 18 Update Allows Users to Replace Default Camera App on Lock Screen with Third-Party Apps like Halide and Obscura | How to Customize Your Lock Screen” As the world’s best investment manager, financial market journalist, and SEO mastermind, I am here to bring you the latest news on how iOS 18 is changing the game for iPhone users. With the new update, you can now replace the default camera app on your lock screen with third-party apps like Halide and Obscura. These popular camera apps offer manual controls and different image processing algorithms, giving you more options for capturing…