Jerry Lin
The Latest
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July Inflation Data Supports Fed Rate Cut; Wall Street Set for Higher Open
Wall Street is poised for a higher open as investors digest the latest inflation data, which aligns with expectations and bolsters predictions for an imminent Federal Reserve interest rate cut. The Commerce Department's report, released Friday, showed a modest increase in the Personal Consumption Expenditures (PCE) price index, a key gauge closely monitored by the Fed. 
Wall Street is poised for a higher open as investors digest the latest inflation data, which aligns with expectations and bolsters predictions for an imminent Federal Reserve interest rate cut. The Commerce Department's report, released Friday, showed a modest increase in the Personal Consumption Expenditures (PCE) price index, a key gauge closely monitored by the Fed. -
Euro Zone Inflation Hits Three-Year Low at 2.2%, Strengthening Case for ECB Rate Cut
Euro zone inflation has dropped to a three-year low of 2.2% in August, according to flash estimates from Eurostat. This decline, from 2.6% in July, aligns with economists' predictions and intensifies discussions about potential monetary policy adjustments by the European Central Bank (ECB). 
Euro zone inflation has dropped to a three-year low of 2.2% in August, according to flash estimates from Eurostat. This decline, from 2.6% in July, aligns with economists' predictions and intensifies discussions about potential monetary policy adjustments by the European Central Bank (ECB). -
U.S. GDP Revised to 3% Growth, Boosting Dollar and Market Optimism
In a boost to market confidence and the strength of the U.S. dollar, the latest data from the Commerce Department revealed that the U.S. economy grew at a robust 3% annual rate in the second quarter of 2024. This upward revision from the initial 2.8% estimate signifies a significant acceleration from the first quarter's modest 1.4% growth and underscores the resilience of the American economy amidst prevailing uncertainties. 
In a boost to market confidence and the strength of the U.S. dollar, the latest data from the Commerce Department revealed that the U.S. economy grew at a robust 3% annual rate in the second quarter of 2024. This upward revision from the initial 2.8% estimate signifies a significant acceleration from the first quarter's modest 1.4% growth and underscores the resilience of the American economy amidst prevailing uncertainties. -
Bitcoin Stabilizes After Sharp Drop; Market Reacts to Fed Comments and Upcoming Nvidia Earnings
Bitcoin (BTC) showed signs of stability on Wednesday morning following a dramatic drop during the late-night European trading hours. The cryptocurrency experienced a sharp decline, plummeting over 6% to as low as $58,090 before recovering somewhat. At the time of writing, Bitcoin is trading at approximately $59,800, reflecting a 5.8% decrease over the past 24 hours. 
Bitcoin (BTC) showed signs of stability on Wednesday morning following a dramatic drop during the late-night European trading hours. The cryptocurrency experienced a sharp decline, plummeting over 6% to as low as $58,090 before recovering somewhat. At the time of writing, Bitcoin is trading at approximately $59,800, reflecting a 5.8% decrease over the past 24 hours. -
U.S. Consumer Confidence Reaches Six-Month High Amid Rising Labor Market Concerns
U.S. consumer confidence surged to its highest level in six months in August, reflecting growing optimism about the economic outlook. However, this positive shift is tempered by increasing anxieties over the labor market, as recent data reveals a concerning spike in the unemployment rate. 
U.S. consumer confidence surged to its highest level in six months in August, reflecting growing optimism about the economic outlook. However, this positive shift is tempered by increasing anxieties over the labor market, as recent data reveals a concerning spike in the unemployment rate. -
Oil Prices Retreat from Recent Surge as Libya Production Concerns Ease
Oil prices experienced a slight pullback on Tuesday, retreating from a recent surge triggered by a halt in Libyan production and escalating Middle East tensions. U.S. crude oil futures slipped below $77 per barrel, with West Texas Intermediate (WTI) trading at $76.99, marking a decline of 43 cents or 0.56%. This drop follows a dramatic increase in prices driven by supply disruptions from Libya and concerns over regional conflict. 
Oil prices experienced a slight pullback on Tuesday, retreating from a recent surge triggered by a halt in Libyan production and escalating Middle East tensions. U.S. crude oil futures slipped below $77 per barrel, with West Texas Intermediate (WTI) trading at $76.99, marking a decline of 43 cents or 0.56%. This drop follows a dramatic increase in prices driven by supply disruptions from Libya and concerns over regional conflict. -
Exxon Mobil Forecasts Steady Oil Demand Through 2050, Challenging Net-Zero Goals
Exxon Mobil Corp.'s latest forecast underscores a formidable challenge to global climate ambitions, projecting that oil and natural gas will continue to dominate the world's energy mix for decades. Despite the rapid expansion of renewable energy and the push towards net-zero carbon emissions, Exxon's report indicates that fossil fuels will still account for over 50% of the global energy market by 2050. 
Exxon Mobil Corp.'s latest forecast underscores a formidable challenge to global climate ambitions, projecting that oil and natural gas will continue to dominate the world's energy mix for decades. Despite the rapid expansion of renewable energy and the push towards net-zero carbon emissions, Exxon's report indicates that fossil fuels will still account for over 50% of the global energy market by 2050. -
Gold Prices Near Record Highs as Fed Rate Cuts Boost Demand
Gold prices continued their upward trajectory on Monday, hovering near record highs as market sentiment was bolstered by dovish signals from the U.S. Federal Reserve and a weakening dollar. Spot gold rose 0.6%, reaching $2,526.15 per ounce, just shy of last week's record high of $2,531.60. U.S. gold futures also saw a 0.6% increase, climbing to $2,561.90 per ounce. 
Gold prices continued their upward trajectory on Monday, hovering near record highs as market sentiment was bolstered by dovish signals from the U.S. Federal Reserve and a weakening dollar. Spot gold rose 0.6%, reaching $2,526.15 per ounce, just shy of last week's record high of $2,531.60. U.S. gold futures also saw a 0.6% increase, climbing to $2,561.90 per ounce. -
Oil Prices Surge as Global Tensions Escalate, Libyan Oil Production Halts Amid Mideast Conflict
Oil prices surged on Monday as a combination of escalating geopolitical tensions and a sudden halt in Libyan oil production sent shockwaves through global markets. The price of Brent crude soared by 3%, surpassing $81 per barrel, while U.S. crude futures climbed to $77.30 per barrel, marking a significant spike driven by fears of supply disruptions in key oil-producing regions. 
Oil prices surged on Monday as a combination of escalating geopolitical tensions and a sudden halt in Libyan oil production sent shockwaves through global markets. The price of Brent crude soared by 3%, surpassing $81 per barrel, while U.S. crude futures climbed to $77.30 per barrel, marking a significant spike driven by fears of supply disruptions in key oil-producing regions. -
Bitcoin’s Surge Beyond $64,000 Signals Renewed Optimism Among Investors
Bitcoin has surged past the $64,000 mark, reigniting interest in the cryptocurrency market and signaling a potential upward trend. The leading cryptocurrency's impressive rally comes on the heels of comments from Federal Reserve Chairman Jerome Powell, which have sparked speculation of an imminent rate cut. This development has catalyzed a broader market rally, with Bitcoin leading the charge. 
Bitcoin has surged past the $64,000 mark, reigniting interest in the cryptocurrency market and signaling a potential upward trend. The leading cryptocurrency's impressive rally comes on the heels of comments from Federal Reserve Chairman Jerome Powell, which have sparked speculation of an imminent rate cut. This development has catalyzed a broader market rally, with Bitcoin leading the charge.
