Jerry Lin
The Latest
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Wall Street Responds Calmly to Fitch's U.S. Credit Downgrade: What's Next for U.S. Stocks, Dollar, and Bonds?
Following Fitch's move, Wall Street Journal noted that Moody's, another international credit rating agency, has not taken any action on the U.S.' credit rating. This week, the only adjustment made by Moody's to sovereign credit ratings of any country was downgrading Nigeria's rating to Caa2 and putting it under negative observation. Moody's remains the only one of the three major international rating agencies to have not downgraded the U.S.' rating. 
Following Fitch's move, Wall Street Journal noted that Moody's, another international credit rating agency, has not taken any action on the U.S.' credit rating. This week, the only adjustment made by Moody's to sovereign credit ratings of any country was downgrading Nigeria's rating to Caa2 and putting it under negative observation. Moody's remains the only one of the three major international rating agencies to have not downgraded the U.S.' rating. -
U.S. Treasury to Surpass Expectations in Upcoming Debt Issuance, Sending Bond Yields Skyrocketing
On Wednesday, the U.S. Treasury Department announced its quarterly refinancing plan, increasing the auction size of long-term bonds for the first time in two and a half years. The newly disclosed refinancing bond issuance total comes to $1.03 trillion, exceeding the $960 billion from the previous quarter in May and surpassing the $1.02 trillion forecasted earlier this week. 
On Wednesday, the U.S. Treasury Department announced its quarterly refinancing plan, increasing the auction size of long-term bonds for the first time in two and a half years. The newly disclosed refinancing bond issuance total comes to $1.03 trillion, exceeding the $960 billion from the previous quarter in May and surpassing the $1.02 trillion forecasted earlier this week. -
US EIA Crude Oil Inventories Plunge by 17.05 Million Barrels, Marking Historic Weekly Drop
Data released on Wednesday by the U.S. Energy Information Administration (EIA) showed a historic weekly drop in the country's crude oil inventories. For the week ending on July 28, the EIA's crude oil inventories plummeted by 17.05 million barrels, setting a record for the largest single-week decline and far exceeding the anticipated decrease of 1.05 million barrels, compared to the previous value of a 600,000 barrel reduction. The weekly drop in crude oil inventories along the U.S. Gulf of Mexico also made history. 
Data released on Wednesday by the U.S. Energy Information Administration (EIA) showed a historic weekly drop in the country's crude oil inventories. For the week ending on July 28, the EIA's crude oil inventories plummeted by 17.05 million barrels, setting a record for the largest single-week decline and far exceeding the anticipated decrease of 1.05 million barrels, compared to the previous value of a 600,000 barrel reduction. The weekly drop in crude oil inventories along the U.S. Gulf of Mexico also made history. -
OpenAI's Next Ace: GPT-5? Trademark Application Sparks Speculation
OpenAI, an artificial intelligence research company, is reportedly considering the introduction of a new Large Language Model (LLM) called "GPT-5". The company has allegedly submitted a trademark application for "GPT-5" to the United States Patent and Trademark Office (USPTO). 
OpenAI, an artificial intelligence research company, is reportedly considering the introduction of a new Large Language Model (LLM) called "GPT-5". The company has allegedly submitted a trademark application for "GPT-5" to the United States Patent and Trademark Office (USPTO). -
Xpeng's AI Director Wu Xinzhou Steps Down, Ascends to Top-Level Executive Role at Global Giant
Xpeng Motors, which recently landed a contract with Volkswagen thanks to its leading technological prowess, is set to lose a key figure in its research and development team. 
Xpeng Motors, which recently landed a contract with Volkswagen thanks to its leading technological prowess, is set to lose a key figure in its research and development team. -
AI Boom Sends ARM's Valuation Skyrocketing to Over $60 Billion as IPO Looms
With the initial public offering (IPO) of ARM inching closer, the surging demand for chips in the AI frenzy has escalated the market's target valuation for ARM, now exceeding $60 billion. 
With the initial public offering (IPO) of ARM inching closer, the surging demand for chips in the AI frenzy has escalated the market's target valuation for ARM, now exceeding $60 billion. -
Apple's Q2 Revenue Forecast to Slide: But Market Eyes Future and AI Ambitions
The market holds its breath as Apple prepares to release its latest report, which is seen as a possible indicator of the broader economic climate. 
The market holds its breath as Apple prepares to release its latest report, which is seen as a possible indicator of the broader economic climate. -
U.S. Credit Rating Downgraded by Fitch: What This Means for Global Finance
After twelve years, the United States has once again experienced a credit rating downgrade from an international agency, raising questions about what this could mean for global financial markets. 
After twelve years, the United States has once again experienced a credit rating downgrade from an international agency, raising questions about what this could mean for global financial markets. -
AMD Predicts Double-Digit Q3 Growth: A Signal of Rebound in the PC Market
After last week's hope of a PC industry demand revival brought by old rival Intel, U.S. chip giant AMD also exceeded expectations in Q2, predicting a significant Q3 increase in PC-related business sales. This gives further credence to the improvement of the PC market. 
After last week's hope of a PC industry demand revival brought by old rival Intel, U.S. chip giant AMD also exceeded expectations in Q2, predicting a significant Q3 increase in PC-related business sales. This gives further credence to the improvement of the PC market. -
Uber Surges to Profitability in Q2 Despite Lower Than Expected Revenue; CFO to Exit, Stocks Stumble
Uber, battling losses in its ride-hailing and food delivery businesses, finally achieved the milestone of operating profit. However, its performance in the second quarter remained lackluster. After the financial results were published, Uber's stock opened lower on Tuesday, with midday losses approaching 7%, retreating to its lowest closing level since July 17 after hitting a two-year high on Monday. 
Uber, battling losses in its ride-hailing and food delivery businesses, finally achieved the milestone of operating profit. However, its performance in the second quarter remained lackluster. After the financial results were published, Uber's stock opened lower on Tuesday, with midday losses approaching 7%, retreating to its lowest closing level since July 17 after hitting a two-year high on Monday.
