Jerry Lin
The Latest
-
China’s Factory Output Contracts Sharply as Tariffs and Falling Demand Hit PMI to 48.3
China's manufacturing activity fell sharply in May, as rising U.S. tariffs and deteriorating global demand dealt a significant blow to export orders and factory output. The Caixin/S&P Global manufacturing purchasing managers' index dropped to 48.3, the lowest reading since September 2022 and well below the 50-point threshold separating expansion from contraction. 
China's manufacturing activity fell sharply in May, as rising U.S. tariffs and deteriorating global demand dealt a significant blow to export orders and factory output. The Caixin/S&P Global manufacturing purchasing managers' index dropped to 48.3, the lowest reading since September 2022 and well below the 50-point threshold separating expansion from contraction. -
OECD Slashes U.S. Growth Forecast to 1.6% as Trump Tariffs Rattle Global Economy
The Organisation for Economic Co-operation and Development cut its U.S. and global economic growth forecasts on Tuesday, citing rising tariffs, persistent policy uncertainty, and weaker consumer and business confidence as key drags on the global outlook. The revised estimates reflect growing concern that escalating trade restrictions-primarily driven by President Donald Trump's tariff policy-are taking a heavier toll than previously anticipated. 
The Organisation for Economic Co-operation and Development cut its U.S. and global economic growth forecasts on Tuesday, citing rising tariffs, persistent policy uncertainty, and weaker consumer and business confidence as key drags on the global outlook. The revised estimates reflect growing concern that escalating trade restrictions-primarily driven by President Donald Trump's tariff policy-are taking a heavier toll than previously anticipated. -
Oil Surges Over 4% After OPEC+ Keeps July Output Hike at 411,000 Barrels Per Day
Oil prices surged Monday after OPEC+ confirmed it would maintain a planned 411,000-barrels-per-day increase in July output, marking the third consecutive monthly rise and easing fears of a surprise supply glut. Brent crude gained $2.49, or 3.97%, to $65.27 per barrel, while U.S. West Texas Intermediate rose $2.70, or 4.44%, to $63.49. 
Oil prices surged Monday after OPEC+ confirmed it would maintain a planned 411,000-barrels-per-day increase in July output, marking the third consecutive monthly rise and easing fears of a surprise supply glut. Brent crude gained $2.49, or 3.97%, to $65.27 per barrel, while U.S. West Texas Intermediate rose $2.70, or 4.44%, to $63.49. -
OPEC+ to Boost July Output by 411,000 Barrels as Saudi Arabia Targets Quota Breaches
OPEC+ announced Saturday it will increase oil production by 411,000 barrels per day in July, marking the third consecutive monthly hike as the alliance led by Saudi Arabia and Russia seeks to claw back market share and penalize member nations that have exceeded agreed-upon output limits. The move, while framed as a response to "healthy market fundamentals," comes despite falling crude prices and growing skepticism among analysts. 
OPEC+ announced Saturday it will increase oil production by 411,000 barrels per day in July, marking the third consecutive monthly hike as the alliance led by Saudi Arabia and Russia seeks to claw back market share and penalize member nations that have exceeded agreed-upon output limits. The move, while framed as a response to "healthy market fundamentals," comes despite falling crude prices and growing skepticism among analysts. -
U.S. Inflation Slows to 2.1% in April as Consumer Spending Falters
U.S. inflation cooled more than expected in April, with the Federal Reserve's preferred gauge showing signs of deceleration even as consumer spending weakened and tariffs from President Donald Trump's trade policy loomed in the background. The data comes as Fed officials weigh policy stability against mounting economic and legal uncertainty surrounding Trump's aggressive trade maneuvers. 
U.S. inflation cooled more than expected in April, with the Federal Reserve's preferred gauge showing signs of deceleration even as consumer spending weakened and tariffs from President Donald Trump's trade policy loomed in the background. The data comes as Fed officials weigh policy stability against mounting economic and legal uncertainty surrounding Trump's aggressive trade maneuvers. -
U.S. GDP Shrinks 0.2% in Q1 as Trump Tariffs Trigger Import Surge, Legal Setback Clouds Outlook
The U.S. economy shrank at a 0.2% annualized pace in the first quarter of 2025, the Commerce Department said Thursday, confirming the first contraction in three years as American businesses rushed to import goods ahead of President Donald Trump's sweeping tariffs. The revised figure improved slightly from the initial 0.3% estimate, but still reflects the impact of rising trade tensions and volatile policy signals on consumer and corporate behavior. The U.S. economy shrank at a 0.2% annualized pace in the first quarter of 2025, the Commerce Department said Thursday, confirming the first contraction in three years as American businesses rushed to import goods ahead of President Donald Trump's sweeping tariffs. The revised figure improved slightly from the initial 0.3% estimate, but still reflects the impact of rising trade tensions and volatile policy signals on consumer and corporate behavior. -
U.S. Jobless Claims Hit Highest in Weeks Amid Trump Tariff Turmoil and Fed Caution
Initial filings for unemployment benefits in the United States rose more than expected last week, adding to signs of a cooling labor market as economic uncertainty deepens over global trade policy and President Donald Trump's sweeping tariff plans. The Labor Department reported Thursday that jobless claims climbed by 14,000 to 240,000 for the week ended May 24, exceeding analyst expectations of 226,000. 
Initial filings for unemployment benefits in the United States rose more than expected last week, adding to signs of a cooling labor market as economic uncertainty deepens over global trade policy and President Donald Trump's sweeping tariff plans. The Labor Department reported Thursday that jobless claims climbed by 14,000 to 240,000 for the week ended May 24, exceeding analyst expectations of 226,000. -
Putin’s Top Electronics Plant Explodes in St. Petersburg Inferno Amid Drone Strike Fears
A major fire erupted at the Avangard electronics factory in St. Petersburg, Russia, early Wednesday, following a series of explosions that shook the Kalininsky District and sent black smoke billowing into the night sky. The plant, a designated Federal Scientific and Production Center, is considered one of Russia's systemically important enterprises, specializing in radio electronics, microcircuitry, and instrumentation. 
A major fire erupted at the Avangard electronics factory in St. Petersburg, Russia, early Wednesday, following a series of explosions that shook the Kalininsky District and sent black smoke billowing into the night sky. The plant, a designated Federal Scientific and Production Center, is considered one of Russia's systemically important enterprises, specializing in radio electronics, microcircuitry, and instrumentation. -
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.
