Jerry Lin
The Latest
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April Home Sales Drop 0.5%, Inventory Rises 21% as Buyers Struggle with Mortgage Costs
U.S. existing home sales declined in April to their slowest pace for the month since 2009, as persistently high mortgage rates and eroding affordability dampened buyer activity during what is typically the peak season for the housing market. The National Association of Realtors reported Thursday that sales of previously owned homes dropped 0.5% from March to a seasonally adjusted annual rate of 4 million units. 
U.S. existing home sales declined in April to their slowest pace for the month since 2009, as persistently high mortgage rates and eroding affordability dampened buyer activity during what is typically the peak season for the housing market. The National Association of Realtors reported Thursday that sales of previously owned homes dropped 0.5% from March to a seasonally adjusted annual rate of 4 million units. -
Bitcoin Surges Past $111,000 to Record High as ETF Inflows, Institutional Buying Accelerate
Bitcoin surged to a new all-time high on Thursday, surpassing $111,000 as institutional adoption, regulatory developments, and investor demand for alternative assets continued to drive momentum. According to Coin Metrics, the cryptocurrency rose 3% to $111,529.78, after hitting an intraday peak of $111,886.41. 
Bitcoin surged to a new all-time high on Thursday, surpassing $111,000 as institutional adoption, regulatory developments, and investor demand for alternative assets continued to drive momentum. According to Coin Metrics, the cryptocurrency rose 3% to $111,529.78, after hitting an intraday peak of $111,886.41. -
UK Inflation Surges to 3.5% in April, Water Bills Jump 26.1% as BOE Faces New Policy Pressure
The U.K.'s inflation rate unexpectedly accelerated to 3.5% in April, according to the Office for National Statistics, marking the highest level in over a year and raising questions about the timing of future interest rate cuts from the Bank of England. The increase, driven by soaring household bills and regulated price hikes, surpassed analysts' expectations of a 3.3% rise and defied recent trends of cooling inflation. 
The U.K.'s inflation rate unexpectedly accelerated to 3.5% in April, according to the Office for National Statistics, marking the highest level in over a year and raising questions about the timing of future interest rate cuts from the Bank of England. The increase, driven by soaring household bills and regulated price hikes, surpassed analysts' expectations of a 3.3% rise and defied recent trends of cooling inflation. -
OPEC+ Targets U.S. Shale as Output Hike Risks Renewed Price War Below $60 a Barrel
OPEC+ is ramping up oil production with the dual aim of disciplining overproducing members and regaining market share from U.S. shale producers, according to officials and sources briefed on the strategy. The coordinated increase by Saudi Arabia and Russia threatens to reopen a price war that could squeeze American drillers already hit by inflation, declining well quality, and market volatility. 
OPEC+ is ramping up oil production with the dual aim of disciplining overproducing members and regaining market share from U.S. shale producers, according to officials and sources briefed on the strategy. The coordinated increase by Saudi Arabia and Russia threatens to reopen a price war that could squeeze American drillers already hit by inflation, declining well quality, and market volatility. -
China Cuts Key Lending Rates for First Time Since October in Bid to Bolster Fragile Recovery
China's central bank on Tuesday cut its key benchmark lending rates for the first time in seven months, part of a broader policy push to support a slowing economy as trade tensions with the U.S. ease and the yuan shows signs of stabilization. 
China's central bank on Tuesday cut its key benchmark lending rates for the first time in seven months, part of a broader policy push to support a slowing economy as trade tensions with the U.S. ease and the yuan shows signs of stabilization. -
Dimon Warns of ‘Extraordinary Complacency’ as S&P 500 Earnings Growth Set to Collapse
JPMorgan Chase CEO Jamie Dimon warned Monday that markets are dangerously underestimating the economic impact of U.S. tariffs, ballooning federal deficits, and rising geopolitical tensions, signaling that S&P 500 earnings growth could collapse to zero within months. Speaking at the bank's annual Investor Day in New York, Dimon said he sees a disconnect between market optimism and the underlying risks that threaten corporate profits and global stability. 
JPMorgan Chase CEO Jamie Dimon warned Monday that markets are dangerously underestimating the economic impact of U.S. tariffs, ballooning federal deficits, and rising geopolitical tensions, signaling that S&P 500 earnings growth could collapse to zero within months. Speaking at the bank's annual Investor Day in New York, Dimon said he sees a disconnect between market optimism and the underlying risks that threaten corporate profits and global stability. -
China Manufacturing Resilient as U.S. Tariffs Bite into Retail, Housing, and Investment
China's industrial output showed unexpected resilience in April despite escalating trade tensions with the U.S., even as retail sales, property investment, and consumption indicators painted a more fragile picture of the recovery. Industrial production rose 6.1% year-over-year, beating the 5.5% consensus forecast in a Reuters poll but slowing from March's 7.7% pace, according to data released Monday by the National Bureau of Statistics. 
China's industrial output showed unexpected resilience in April despite escalating trade tensions with the U.S., even as retail sales, property investment, and consumption indicators painted a more fragile picture of the recovery. Industrial production rose 6.1% year-over-year, beating the 5.5% consensus forecast in a Reuters poll but slowing from March's 7.7% pace, according to data released Monday by the National Bureau of Statistics. -
Tariff Anxiety Pushes Inflation Expectations to 7.3%, Consumer Confidence Near Record Low
Consumer confidence in the United States fell sharply in early May as Americans increasingly cite tariffs as a primary driver of economic anxiety, according to preliminary data from the University of Michigan's monthly survey released Friday. The index of consumer sentiment dropped to 50.8, down from 52.2 in April, marking the second-lowest reading on record after June 2022's all-time low of 50. 
Consumer confidence in the United States fell sharply in early May as Americans increasingly cite tariffs as a primary driver of economic anxiety, according to preliminary data from the University of Michigan's monthly survey released Friday. The index of consumer sentiment dropped to 50.8, down from 52.2 in April, marking the second-lowest reading on record after June 2022's all-time low of 50. -
Japan’s GDP Shrinks 0.7% as Trump Tariffs Threaten Deeper Contraction
Japan's economy contracted more sharply than expected in the first quarter of 2025, raising alarms over the country's fragile recovery and intensifying pressure on policymakers ahead of a looming wave of U.S. tariffs targeting key export sectors. Preliminary government data released Friday showed real GDP shrank by 0.7% on an annualized basis in the January-March period, significantly worse than the market consensus of a 0.2% decline. 
Japan's economy contracted more sharply than expected in the first quarter of 2025, raising alarms over the country's fragile recovery and intensifying pressure on policymakers ahead of a looming wave of U.S. tariffs targeting key export sectors. Preliminary government data released Friday showed real GDP shrank by 0.7% on an annualized basis in the January-March period, significantly worse than the market consensus of a 0.2% decline. -
Oil Prices Drop Over 3% as Trump Signals Progress Toward U.S.-Iran Nuclear Deal
Oil prices dropped sharply Thursday after U.S. President Donald Trump said Washington is nearing a nuclear agreement with Iran, raising the possibility of renewed Iranian crude exports and easing geopolitical tensions that have long propped up global prices. The sell-off was further fueled by a surprise build in U.S. crude inventories, compounding fears of oversupply. 
Oil prices dropped sharply Thursday after U.S. President Donald Trump said Washington is nearing a nuclear agreement with Iran, raising the possibility of renewed Iranian crude exports and easing geopolitical tensions that have long propped up global prices. The sell-off was further fueled by a surprise build in U.S. crude inventories, compounding fears of oversupply.
