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Trump criticizes Harris on jobs report during Michigan rally
Donald Trump campaigned in Michigan, criticizing Kamala Harris and President Joe Biden over a disappointing jobs report that showed only 12,000 jobs added in October, significantly down from September's 223,000. He claimed their policies have harmed the economy, warning that without change, families would struggle to recover. The report's weak performance was attributed to the impacts of hurricanes and strikes affecting employment.
us jobless claims decline as hurricane effects subside
Initial claims for state unemployment benefits fell by 12,000 to a seasonally adjusted 216,000 for the week ending Oct. 26, as the impact of Hurricanes Helene and Milton diminished. The number of people receiving ongoing benefits also decreased by 26,000 to 1.862 million. Despite these fluctuations, the overall labor market remains stable, with planned layoffs dropping 23.7% to 55,597 in October.
biden administration allocates two billion dollars to enhance us power grid
The Biden-Harris administration is allocating nearly $2 billion for 38 projects aimed at enhancing the U.S. power grid's resilience against extreme weather, while also boosting the economy. This funding, part of the Grid Resilience and Innovation Partnerships (GRIP) program, will increase grid capacity by over 7.5 gigawatts and support nearly 6,000 jobs. Overall, the GRIP program has announced $7.6 billion in federal funding for 104 projects, expected to enable 55 gigawatts of grid capacity, enough to power over 40 million homes annually.
ubs forecasts euro dollar rise to 1.16 by end of 2025
UBS forecasts a volatile EUR/USD currency pair, expecting it to rise to 1.16 by the end of 2025, despite short-term risks from the US election. The bank advises selling during USD strength phases, particularly if Trump wins, while maintaining a positive outlook for European growth. Recent US labor market strength and ECB rate cuts are influencing the currency dynamics, with key support at 1.08 and resistance at 1.12 and 1.15.
ubs raises price target for berkshire hathaway amid strong earnings outlook
UBS has raised its price target for Berkshire Hathaway shares to $538, citing a 1% discount to intrinsic value and improved underwriting results. Despite a projected increase in catastrophe losses from Hurricane Milton, the company reported a 26% profit increase in the first half of the year, totaling $22.8 billion. Berkshire's diverse investments, including significant stakes in Apple and American Express, contributed to a 7% growth in its common equity portfolio in Q3.
UBS raises Berkshire Hathaway price target amid mixed earnings outlook
UBS has raised its price target for Berkshire Hathaway shares to $538, citing a 1% discount to intrinsic value and improved underwriting results. Despite a projected increase in catastrophe losses from Hurricane Milton, the company reported a 26% profit increase in the first half of the year, totaling $22.8 billion. Berkshire's diverse investments, including significant stakes in Apple and American Express, continue to bolster its market position, although its market cap recently dipped below $1 trillion.
ubs raises price target for berkshire hathaway amid mixed earnings outlook
UBS has increased its price target for Berkshire Hathaway shares from $506 to $538, citing a 1% discount to intrinsic value and improved underwriting results. Despite a projected rise in catastrophe losses from Hurricane Milton affecting fourth-quarter earnings, the company reported a 26% increase in first-half earnings to $22.8 billion. Berkshire's market cap briefly surpassed $1 trillion, and analysts expect a 7% rise in its common stock portfolio, driven by gains in Apple, American Express, and Coca-Cola.
ubs raises price target for hannover re while maintaining neutral rating
UBS has increased its price target for Hannover Re from 238 to 267 euros while maintaining a "Neutral" rating ahead of the third quarter results. Analyst Will Hardcastle noted that the sector's natural catastrophe budgets were largely depleted, with Hurricane Milton impacting fourth-quarter results, though improvements in tariffs are expected. Munich Re remains Hardcastle's preferred choice among European reinsurers.
ubs maintains sell rating on swiss re despite raised price target
UBS has maintained its "sell" rating for Swiss Re while raising the price target from 101 to 106 francs ahead of the third-quarter results. Despite a 23.3% gain in share price over 2024, Swiss Re shares were virtually unchanged at CHF 116.55, indicating a potential downside of 9.05%. The quarterly results are expected to be released on November 14, 2024.
ubs raises price target for hannover re shares to 267 euros
UBS AG has raised its price target for Hannover Re from EUR 238 to EUR 267 while maintaining a "Neutral" rating. The share price rose by 0.7% to EUR 257.10, indicating an upside potential of 3.85%. Hannover Re is set to release its Q3 2024 figures on November 11, 2024.
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