Jerry Lin
The Latest
-
U.S. Job Market Weaker Than Reported: Labor Department Revises Payroll Growth Down by 818,000
The Labor Department announced on Wednesday that the U.S. economy created 818,000 fewer jobs than originally reported over the 12-month period ending in March 2024. The Bureau of Labor Statistics (BLS), as part of its annual benchmark revisions, indicated that actual job growth during this period was nearly 30% lower than the initially reported 2.9 million jobs. 
The Labor Department announced on Wednesday that the U.S. economy created 818,000 fewer jobs than originally reported over the 12-month period ending in March 2024. The Bureau of Labor Statistics (BLS), as part of its annual benchmark revisions, indicated that actual job growth during this period was nearly 30% lower than the initially reported 2.9 million jobs. -
Gold Prices Retreat Ahead of Fed Minutes as Investors Await Clarity on Interest Rates
Gold prices edged lower on Wednesday as the dollar regained its footing after a period of decline, with investors shifting their focus to the upcoming minutes from the U.S. Federal Reserve's most recent policy meeting. The precious metal, which had surged to a record high earlier in the week, saw some profit-taking as traders awaited signals on the future of U.S. interest rates. 
Gold prices edged lower on Wednesday as the dollar regained its footing after a period of decline, with investors shifting their focus to the upcoming minutes from the U.S. Federal Reserve's most recent policy meeting. The precious metal, which had surged to a record high earlier in the week, saw some profit-taking as traders awaited signals on the future of U.S. interest rates. -
Oil Prices Rebound as Traders Eye U.S. Stockpile Data Amid Middle East Tensions
Oil prices experienced a modest recovery on Wednesday, edging higher after several consecutive days of losses driven by concerns over weakening Chinese demand and diminishing fears that the conflict in the Middle East could escalate to disrupt supply chains. Brent crude futures saw a rise of 47 cents, or 0.6%, reaching $77.67 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 48 cents, or 0.7%, to settle at $73.65 per barrel. 
Oil prices experienced a modest recovery on Wednesday, edging higher after several consecutive days of losses driven by concerns over weakening Chinese demand and diminishing fears that the conflict in the Middle East could escalate to disrupt supply chains. Brent crude futures saw a rise of 47 cents, or 0.6%, reaching $77.67 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 48 cents, or 0.7%, to settle at $73.65 per barrel. -
Australia’s Central Bank Signals Prolonged High Rates Amid Inflation Concerns
Australia's central bank has indicated that interest rates will likely remain at their current 12-year high for an "extended period," signaling that a rate cut is unlikely in the near term as policymakers continue their fight against inflation. This stance was revealed in the minutes from the Reserve Bank of Australia's (RBA) August 5-6 meeting, which emphasized the need for sustained restrictive monetary policy to ensure inflation returns to its target range of 2-3%. 
Australia's central bank has indicated that interest rates will likely remain at their current 12-year high for an "extended period," signaling that a rate cut is unlikely in the near term as policymakers continue their fight against inflation. This stance was revealed in the minutes from the Reserve Bank of Australia's (RBA) August 5-6 meeting, which emphasized the need for sustained restrictive monetary policy to ensure inflation returns to its target range of 2-3%. -
Gold Soars to Record High as Investors Eye Fed Rate Cuts
Gold prices surged to a record high on Tuesday, as increasing expectations of interest rate cuts from the U.S. Federal Reserve prompted a wave of investment in the precious metal. The spot price of gold rose to $2,528.53 per ounce, marking a nearly 1% gain for the day and setting a new all-time high. This rise reflects a broader trend where investors, wary of economic uncertainty and geopolitical tensions, are turning to gold as a safe haven. 
Gold prices surged to a record high on Tuesday, as increasing expectations of interest rate cuts from the U.S. Federal Reserve prompted a wave of investment in the precious metal. The spot price of gold rose to $2,528.53 per ounce, marking a nearly 1% gain for the day and setting a new all-time high. This rise reflects a broader trend where investors, wary of economic uncertainty and geopolitical tensions, are turning to gold as a safe haven. -
Bitcoin Tops $61K with Eyes on Federal Reserve’s Upcoming Rate Decision
Bitcoin prices climbed above $61,000 in early European trading on Tuesday, marking a significant recovery after two consecutive sessions of losses. Despite this rise, the market remains volatile, with the Bitcoin Volatility Index hovering near its yearly high of 3.07%. 
Bitcoin prices climbed above $61,000 in early European trading on Tuesday, marking a significant recovery after two consecutive sessions of losses. Despite this rise, the market remains volatile, with the Bitcoin Volatility Index hovering near its yearly high of 3.07%. -
Oil Prices Steady as Gaza Ceasefire Prospects Emerge Amid Chinese Demand Concerns
Oil prices showed signs of stabilization on Tuesday after two consecutive sessions of decline, as geopolitical tensions in the Middle East began to ease with the potential for a ceasefire deal in Gaza. However, concerns over weakening demand from China, the world's second-largest economy, continue to weigh heavily on the market. 
Oil prices showed signs of stabilization on Tuesday after two consecutive sessions of decline, as geopolitical tensions in the Middle East began to ease with the potential for a ceasefire deal in Gaza. However, concerns over weakening demand from China, the world's second-largest economy, continue to weigh heavily on the market. -
Federal Reserve Signals Rate Cuts as Early as September: What It Means for the U.S. Economy and Election
As the U.S. presidential election approaches, the economic landscape is shifting in ways that could significantly influence the outcome. Wall Street economists and financial markets are increasingly betting that the Federal Reserve will begin cutting interest rates as early as September, providing a potential boost to Vice President Kamala Harris's campaign. 
As the U.S. presidential election approaches, the economic landscape is shifting in ways that could significantly influence the outcome. Wall Street economists and financial markets are increasingly betting that the Federal Reserve will begin cutting interest rates as early as September, providing a potential boost to Vice President Kamala Harris's campaign. -
Gold Prices Surge to Record Highs Amid Fed Rate Speculation and Geopolitical Tensions; Could Hit $3,000 by 2025
Gold prices have recently reached unprecedented levels, with analysts predicting further increases as global uncertainties continue to mount. On Monday, spot gold held steady at last session's record high of $2,508.14 per ounce, while U.S. gold futures rose to a new peak of $2,540.80 per ounce. This surge comes as the U.S. Federal Reserve's upcoming rate decision looms large over the financial markets, with many investors anticipating a potential rate cut as early as next month. 
Gold prices have recently reached unprecedented levels, with analysts predicting further increases as global uncertainties continue to mount. On Monday, spot gold held steady at last session's record high of $2,508.14 per ounce, while U.S. gold futures rose to a new peak of $2,540.80 per ounce. This surge comes as the U.S. Federal Reserve's upcoming rate decision looms large over the financial markets, with many investors anticipating a potential rate cut as early as next month. -
Goldman Sachs Lowers U.S. Recession Odds to 20% Following Positive Economic Indicators
Goldman Sachs has adjusted its outlook on the U.S. economy, reducing the probability of a recession over the next 12 months to 20% from a previously elevated 25%. This change comes on the heels of encouraging data from the labor market and stronger-than-expected retail sales, signaling that the economic downturn many had feared may not be as imminent as previously thought. 
Goldman Sachs has adjusted its outlook on the U.S. economy, reducing the probability of a recession over the next 12 months to 20% from a previously elevated 25%. This change comes on the heels of encouraging data from the labor market and stronger-than-expected retail sales, signaling that the economic downturn many had feared may not be as imminent as previously thought.
