Author: Multibagger News

Breaking News: Alec Baldwin Involuntary Manslaughter Trial Begins in New Mexico | Investment Insights By Andrew Hay SANTA FE, New Mexico (Multibagger) – Nearly three years after the on-set death of “Rust” cinematographer Halyna Hutchins, New Mexico prosecutors prepared to make opening statements on the involuntary manslaughter trial of actor Alec Baldwin in a shooting that shocked Hollywood. A New Mexico jury of 12 and four alternates — 11 women and five men chosen Tuesday — will hear prosecutors on Wednesday outline arguments that Baldwin disregarded safety during filming of the low-budget movie before pointing a gun at Hutchins during…

Jefferies Upgrades Brighthouse Financial (BHF) Stock Rating to Buy with $54.00 Price Target On Wednesday, Jefferies made a favorable adjustment to its stance on Brighthouse Financial, Inc. (NASDAQ: BHF) stock, shifting the rating from Hold to Buy and increasing the price target to $54.00 from the previous $49.00. This upgrade signifies a significant shift in Jefferies’ view on the insurer, marking the first time they have given Brighthouse a Buy rating since covering the stock in 2017 post its spin-off from MetLife (NYSE: MET). The analyst cited several reasons for the upgrade, highlighting Brighthouse’s strategic positioning, low P/E ratio, and…

The U.S. Dollar Steadies After Powell’s Testimony – What to Expect Next As the U.S. dollar stabilized near a three-week low, investors are closely watching Fed Chair Jerome Powell’s testimony for clues on interest rate cuts. The Dollar Index edged lower to 104.770, just above Monday’s low. In his initial testimony, Powell highlighted the cooling labor market and the need for more data before considering a rate cut. However, he also mentioned the risks the central bank faces, hinting at a possible September rate cut. Meanwhile, the euro rose slightly to 1.0819 after the French parliamentary elections resulted in a…

Federal Reserve Chairman Jerome Powell Sets Stage for September Rate Cut In a recent testimony before the Senate Banking Committee, Federal Reserve Chairman Jerome Powell hinted at a potential rate cut in September. Powell highlighted the cooling labor market as a key factor influencing the Fed’s rate-decision process, shifting the focus from high inflation to employment concerns. Previously, the Fed’s main policy focus was on curbing high inflation, with maximum employment taking a back seat. However, with signs of a cooling labor market, the Fed is now considering the risks of maintaining policy rates too high for too long, which…

BMW Announces Major Recall of 394,000 US Vehicles Due to Faulty Driver Airbags: What It Means for Your Safety and Investment In a significant move impacting both consumer safety and investment landscapes, BMW has announced a large-scale recall of approximately 394,000 vehicles in the United States. The German automaker is addressing a critical issue involving faulty driver airbags, a problem that poses serious safety risks and potential financial repercussions. The Scope of the Recall The recall, one of the largest in recent years, affects several BMW models. These include: 3 Series (2000-2006) 5 Series (2002-2003) X5 (2000-2004) X3 (2003) The…

European Shares Rise as Investors Await Federal Reserve Chair Powell’s Testimony European shares advanced on Wednesday, driven by strong corporate earnings despite weak oil and metal prices. Investors are eagerly awaiting Federal Reserve Chair Jerome Powell’s second day of testimony for more insights on interest rates. The pan-European index rose 0.2%, with real estate shares leading the gains. However, basic resources were down 0.5% due to declining oil and base metals prices. French stocks saw a 0.2% increase after a previous session drop, as investors monitored the political landscape post Sunday’s legislative election. Powell mentioned on Tuesday that inflation is…

Breaking News: Sen. Michael Bennet Expresses Doubts About Biden’s Election Prospects In a shocking turn of events, Sen. Michael Bennet of Colorado has publicly voiced concerns about President Joe Biden’s chances in the upcoming election. During a recent appearance on CNN, Bennet revealed that he had shared these doubts with fellow senators Jon Tester of Montana and Sherrod Brown of Ohio. While he stopped short of calling for Biden to withdraw from the race, Bennet’s comments have sent shockwaves through the political world. Bennet, who previously ran against Biden in the 2020 primary, cited recent polling data showing former President…

Barclays Downgrades Hunting Plc (LSE:HTG) Rating to Equalweight, Raises Price Target to GBP5.00 Barclays recently adjusted its stance on Hunting Plc, shifting the rating from Overweight to Equalweight. Alongside the downgrade, the firm also increased the price target for the energy services company to GBP5.00, up from the previous GBP4.30. The revision in the stock’s rating reflects a tempered outlook for Hunting’s business prospects. According to Barclays, while the company’s offshore and international operations have shown growth, the anticipated rebound in Hunting’s US business now appears unlikely to materialize in the second half of 2024. The new price target of…

Jerome Powell’s Testimony Sends Shockwaves through Wall Street as Microsoft Steps Back from OpenAI Board In a highly anticipated move, Federal Reserve Chair Jerome Powell returned to Capitol Hill for his semi-annual Congressional testimony, signaling concerns about the cooling labor market and potential interest rate cuts. Market participants are on edge as Powell prepares the ground for a possible September cut, emphasizing that inflation is not the only factor driving monetary policy decisions. Meanwhile, futures are holding steady as investors await Powell’s second round of testimony, with U.S. stock futures showing minimal movement. Powell’s hints at easing monetary policy have…

Microsoft Surrenders OpenAI Board Seat Amid Regulatory Scrutiny: What This Means for Investors In a strategic move that has captured the attention of the financial world, Microsoft (NASDAQ: MSFT) has decided to relinquish its observer seat on OpenAI’s board. This decision comes as regulatory scrutiny over generative AI intensifies in Europe and the U.S., according to a recent report by CNBC. Key Points of the Announcement Regulatory Pressures: Microsoft’s Deputy General Counsel, Keith Dolliver, communicated to OpenAI that the observer seat had provided valuable insights but was deemed unnecessary moving forward. This development follows indications from the European Commission that…