Jerry Lin
The Latest
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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. -
Coinbase Faces $400 Million Fallout After Insider Hack and $20 Million Ransom Demand
Coinbase, the largest cryptocurrency exchange in the United States, disclosed Thursday that it is facing a potential financial impact of up to $400 million after cybercriminals bribed overseas support staff to steal sensitive customer data and demand a $20 million ransom. The breach comes days before Coinbase is set to be added to the benchmark S&P 500 index. 
Coinbase, the largest cryptocurrency exchange in the United States, disclosed Thursday that it is facing a potential financial impact of up to $400 million after cybercriminals bribed overseas support staff to steal sensitive customer data and demand a $20 million ransom. The breach comes days before Coinbase is set to be added to the benchmark S&P 500 index. -
U.S. Inflation Slows to 2.3% in April, Lowest Since 2021, as Trump Tariff Pressures Loom
U.S. inflation eased more than expected in April, with consumer prices rising at their slowest annual pace in over four years despite early signs of tariff-related cost pressures tied to President Donald Trump's trade policies. The Consumer Price Index climbed 0.2% from March and 2.3% from a year earlier, the Bureau of Labor Statistics said Tuesday, marking the lowest annual rate since February 2021. 
U.S. inflation eased more than expected in April, with consumer prices rising at their slowest annual pace in over four years despite early signs of tariff-related cost pressures tied to President Donald Trump's trade policies. The Consumer Price Index climbed 0.2% from March and 2.3% from a year earlier, the Bureau of Labor Statistics said Tuesday, marking the lowest annual rate since February 2021. -
Crude Oil Surges 4% as U.S.-China Tariff Truce Fuels Global Demand Outlook
Crude oil prices climbed sharply on Monday after the United States and China agreed to a 90-day tariff reduction, temporarily easing trade tensions between the world's two largest oil consumers. The market responded with optimism to the weekend agreement reached during talks in Geneva. 
Crude oil prices climbed sharply on Monday after the United States and China agreed to a 90-day tariff reduction, temporarily easing trade tensions between the world's two largest oil consumers. The market responded with optimism to the weekend agreement reached during talks in Geneva. -
Markets Rally as U.S.-China Slash Tariffs; Trade War Hits 90-Day Pause in Geneva Talks
The United States and China have agreed to a temporary 90-day pause in their escalating trade war, slashing tit-for-tat tariffs by up to 115% following high-stakes negotiations in Geneva. The agreement marks the most significant de-escalation in trade tensions since President Donald Trump imposed sweeping levies on Chinese imports earlier this year. 
The United States and China have agreed to a temporary 90-day pause in their escalating trade war, slashing tit-for-tat tariffs by up to 115% following high-stakes negotiations in Geneva. The agreement marks the most significant de-escalation in trade tensions since President Donald Trump imposed sweeping levies on Chinese imports earlier this year. -
Treasury Warns U.S. Could Default by August Without Debt Ceiling Hike, Urges Action Before July Recess
Treasury Secretary Scott Bessent warned congressional leaders on Friday that the United States could exhaust its borrowing authority by August, urging them to raise or suspend the debt ceiling before lawmakers depart for their summer recess at the end of July. 
Treasury Secretary Scott Bessent warned congressional leaders on Friday that the United States could exhaust its borrowing authority by August, urging them to raise or suspend the debt ceiling before lawmakers depart for their summer recess at the end of July. -
Gold Nears $3,350 as Dollar Dips, Markets Await U.S.-China Trade Talks and Fed Commentary
Gold prices rose Friday and were on track for a weekly gain of 2.5% as investors responded to a weakening U.S. dollar and escalating geopolitical tensions, with attention turning to U.S.-China trade talks set for this weekend in Switzerland. Spot gold climbed 0.6% to $3,325.20 per ounce by 11:34 GMT, while U.S. gold futures increased 0.8% to $3,334.30. 
Gold prices rose Friday and were on track for a weekly gain of 2.5% as investors responded to a weakening U.S. dollar and escalating geopolitical tensions, with attention turning to U.S.-China trade talks set for this weekend in Switzerland. Spot gold climbed 0.6% to $3,325.20 per ounce by 11:34 GMT, while U.S. gold futures increased 0.8% to $3,334.30.
