Jerry Lin
The Latest
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Bitcoin Falls Below $55,000 as Mt. Gox Begins Creditor Repayments
Bitcoin experienced a significant slump, reaching a five-month low under $55,000, following the announcement from the defunct cryptocurrency exchange Mt. Gox that it had commenced repayments to creditors. The news sent ripples through the market, triggering one of the largest liquidation events of the year. 
Bitcoin experienced a significant slump, reaching a five-month low under $55,000, following the announcement from the defunct cryptocurrency exchange Mt. Gox that it had commenced repayments to creditors. The news sent ripples through the market, triggering one of the largest liquidation events of the year. -
U.S. Economy Adds Jobs in June Amid Rising Unemployment Rate: Federal Reserve's Next Move Under Scrutiny
In a mixed signal for the U.S. economy, the Labor Department reported Friday that nonfarm payrolls increased by 206,000 in June, surpassing the Dow Jones forecast of 200,000 but falling short of May's downwardly revised gain of 218,000. At the same time, the unemployment rate unexpectedly climbed to 4.1%, its highest level since October 2021, complicating the Federal Reserve's decision-making on monetary policy. 
In a mixed signal for the U.S. economy, the Labor Department reported Friday that nonfarm payrolls increased by 206,000 in June, surpassing the Dow Jones forecast of 200,000 but falling short of May's downwardly revised gain of 218,000. At the same time, the unemployment rate unexpectedly climbed to 4.1%, its highest level since October 2021, complicating the Federal Reserve's decision-making on monetary policy. -
Oil Prices Climb as U.S. Crude Inventories See Sharp Decline
Oil prices saw a notable rise on Wednesday, spurred by a significant decline in U.S. crude inventories, although gains were tempered by broader concerns over global supply and demand dynamics. Brent crude futures increased by $1.10, or 1.3%, to settle at $87.34 per barrel, while U.S. West Texas Intermediate (WTI) crude futures gained $1.07, or 1.3%, closing at $83.88 per barrel. 
Oil prices saw a notable rise on Wednesday, spurred by a significant decline in U.S. crude inventories, although gains were tempered by broader concerns over global supply and demand dynamics. Brent crude futures increased by $1.10, or 1.3%, to settle at $87.34 per barrel, while U.S. West Texas Intermediate (WTI) crude futures gained $1.07, or 1.3%, closing at $83.88 per barrel. -
U.S. Jobless Claims Rise Amid Gradual Labor Market Slowdown
The U.S. labor market shows signs of a gradual slowdown as weekly jobless claims rise, reflecting a cooling in employment momentum. This trend, combined with easing inflation pressures, keeps the Federal Reserve on track to potentially start cutting interest rates later this year. 
The U.S. labor market shows signs of a gradual slowdown as weekly jobless claims rise, reflecting a cooling in employment momentum. This trend, combined with easing inflation pressures, keeps the Federal Reserve on track to potentially start cutting interest rates later this year. -
Slower-Than-Expected Private Payroll Growth in June Raises Concerns About U.S. Labor Market
According to the ADP National Employment Report released on Wednesday, private sector employment increased by just 150,000 jobs in June, down from an upwardly revised 157,000 in May. This figure also missed the Dow Jones consensus estimate of 160,000 and marked the smallest monthly gain since January. 
According to the ADP National Employment Report released on Wednesday, private sector employment increased by just 150,000 jobs in June, down from an upwardly revised 157,000 in May. This figure also missed the Dow Jones consensus estimate of 160,000 and marked the smallest monthly gain since January. -
Fed's Powell Signals Caution on Rate Cuts Amid Disinflation Progress
Federal Reserve Chair Jerome Powell stated on Tuesday that the U.S. economy is back on a "disinflationary path," but emphasized the need for more data before the central bank considers cutting interest rates. Speaking at a monetary policy conference in Portugal, Powell highlighted the recent inflation data that showed no increase in May, with the 12-month rate of price increases dropping to 2.6%. This is still above the Fed's 2% target but indicates a downward trend following earlier concerns this year. 
Federal Reserve Chair Jerome Powell stated on Tuesday that the U.S. economy is back on a "disinflationary path," but emphasized the need for more data before the central bank considers cutting interest rates. Speaking at a monetary policy conference in Portugal, Powell highlighted the recent inflation data that showed no increase in May, with the 12-month rate of price increases dropping to 2.6%. This is still above the Fed's 2% target but indicates a downward trend following earlier concerns this year. -
Manhattan Real Estate Shifts to Buyer's Market Amid Price Drops and Inventory Surge
Manhattan's real estate market is experiencing a notable shift, with falling apartment prices and rising inventory marking a transition to a buyer's market. In the second quarter of 2024, the average sales price of Manhattan apartments decreased by 3%, settling just above $2 million, according to reports from Douglas Elliman and Miller Samuel. The median price saw a 2% drop, reaching $1.2 million, while luxury apartment prices declined for the first time in over a year. 
Manhattan's real estate market is experiencing a notable shift, with falling apartment prices and rising inventory marking a transition to a buyer's market. In the second quarter of 2024, the average sales price of Manhattan apartments decreased by 3%, settling just above $2 million, according to reports from Douglas Elliman and Miller Samuel. The median price saw a 2% drop, reaching $1.2 million, while luxury apartment prices declined for the first time in over a year. -
Japanese Insurers to Sell Honda Shares: Mid-Term Strategic Opportunity for Japanese Stocks?
As Japan accelerates its "Nippon Individual Savings Account" (NISA) reform, domestic companies are aligning with regulatory demands to abandon their long-standing strategy of cross-shareholding. According to JPMorgan, selling off these cross-held shares could free up capital for stock buybacks, further enhancing shareholder value. 
As Japan accelerates its "Nippon Individual Savings Account" (NISA) reform, domestic companies are aligning with regulatory demands to abandon their long-standing strategy of cross-shareholding. According to JPMorgan, selling off these cross-held shares could free up capital for stock buybacks, further enhancing shareholder value. -
Eurozone Inflation Dips to 2.5%, Core Inflation Remains Stubbornly High
Inflation in the eurozone dipped to 2.5% in June, a slight decrease from May's 2.6%, as reported by the European Union's statistics agency. This headline figure aligns with the expectations of economists polled by Reuters. Despite this overall dip, core inflation, which excludes volatile components like energy, food, alcohol, and tobacco, remained steady at 2.9%, narrowly missing the forecast of 2.8%. 
Inflation in the eurozone dipped to 2.5% in June, a slight decrease from May's 2.6%, as reported by the European Union's statistics agency. This headline figure aligns with the expectations of economists polled by Reuters. Despite this overall dip, core inflation, which excludes volatile components like energy, food, alcohol, and tobacco, remained steady at 2.9%, narrowly missing the forecast of 2.8%. -
Oil Prices Rise on Summer Demand and OPEC+ Cuts Despite Global Risks
Oil prices surged on Monday, driven by expectations of peak summer consumption and the continued impact of OPEC+ production cuts. Despite the upward trend, gains were tempered by increasing output from other producers and potential market volatility ahead of significant geopolitical events and elections. Oil prices surged on Monday, driven by expectations of peak summer consumption and the continued impact of OPEC+ production cuts. Despite the upward trend, gains were tempered by increasing output from other producers and potential market volatility ahead of significant geopolitical events and elections.
