Jerry Lin
The Latest
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UK's Economic Growth Surges in Q2, Yet Signs of Slowdown Emerge as Challenges Persist
The United Kingdom's economy demonstrated robust growth in the second quarter of 2024, expanding by 0.6% as it continued its recovery from the shallow recession of the previous year. This marks the second consecutive quarter of strong growth, following a 0.7% expansion in the first quarter, the fastest pace in over two years, according to data released by the Office for National Statistics (ONS) on Thursday. However, the momentum appears to be waning as the economy enters the latter half of the year, signaling potential challenges ahead. 
The United Kingdom's economy demonstrated robust growth in the second quarter of 2024, expanding by 0.6% as it continued its recovery from the shallow recession of the previous year. This marks the second consecutive quarter of strong growth, following a 0.7% expansion in the first quarter, the fastest pace in over two years, according to data released by the Office for National Statistics (ONS) on Thursday. However, the momentum appears to be waning as the economy enters the latter half of the year, signaling potential challenges ahead. -
U.S. Inflation Eases to 2.9% in July, Lowest Since 2021 as Fed Considers Rate Cuts
Inflation in the United States continued its gradual decline in July, offering a glimmer of relief for consumers and fueling speculation about the Federal Reserve's next move on interest rates. The Labor Department reported Wednesday that the consumer price index (CPI), which measures the average change over time in the prices paid by consumers for goods and services, rose by 0.2% in July. This increase brings the annual inflation rate down to 2.9%, the lowest since March 2021, and slightly below the 3% rate recorded in June. 
Inflation in the United States continued its gradual decline in July, offering a glimmer of relief for consumers and fueling speculation about the Federal Reserve's next move on interest rates. The Labor Department reported Wednesday that the consumer price index (CPI), which measures the average change over time in the prices paid by consumers for goods and services, rose by 0.2% in July. This increase brings the annual inflation rate down to 2.9%, the lowest since March 2021, and slightly below the 3% rate recorded in June. -
Inflation Cooldown: Wholesale Prices Rise Less Than Expected, Easing Fed Rate Cut Path
A key measure of U.S. wholesale inflation showed a modest increase in July, adding further momentum to the possibility of the Federal Reserve lowering interest rates in the near future. The Producer Price Index (PPI), which tracks the prices producers receive for their goods and services, rose by 0.1% last month, according to the Labor Department's Bureau of Labor Statistics (BLS). This increase fell short of economists' expectations, who had forecasted a 0.2% rise. 
A key measure of U.S. wholesale inflation showed a modest increase in July, adding further momentum to the possibility of the Federal Reserve lowering interest rates in the near future. The Producer Price Index (PPI), which tracks the prices producers receive for their goods and services, rose by 0.1% last month, according to the Labor Department's Bureau of Labor Statistics (BLS). This increase fell short of economists' expectations, who had forecasted a 0.2% rise. -
Oil and Gold Prices Surge Amid Rising Middle East Tensions
Global commodity markets have experienced significant volatility as crude oil and gold prices surged, driven by escalating tensions in the Middle East and the ongoing conflict between Ukraine and Russia. The upward momentum in these markets reflects growing investor concerns over supply disruptions and an increased demand for safe-haven assets amidst geopolitical uncertainty. 
Global commodity markets have experienced significant volatility as crude oil and gold prices surged, driven by escalating tensions in the Middle East and the ongoing conflict between Ukraine and Russia. The upward momentum in these markets reflects growing investor concerns over supply disruptions and an increased demand for safe-haven assets amidst geopolitical uncertainty. -
U.S. Consumer Inflation Expectations Hit Record Low, New York Fed Survey Reveals
U.S. consumers are increasingly optimistic about the future of inflation, according to the latest Survey of Consumer Expectations released by the Federal Reserve Bank of New York. The survey, which reflects consumer sentiment regarding economic conditions, revealed that the three-year inflation outlook has dropped to a record low, a significant development as the Federal Reserve continues to grapple with price stability in a turbulent economic environment. U.S. consumers are increasingly optimistic about the future of inflation, according to the latest Survey of Consumer Expectations released by the Federal Reserve Bank of New York. The survey, which reflects consumer sentiment regarding economic conditions, revealed that the three-year inflation outlook has dropped to a record low, a significant development as the Federal Reserve continues to grapple with price stability in a turbulent economic environment. -
Yen Weakens Amid Market Calm as Investors Await Key U.S. Inflation Data
The Japanese yen experienced a dip against major currencies on Monday as global markets began to stabilize following a tumultuous week. Investors are now shifting their focus to the upcoming U.S. inflation data, which could provide critical insights into the Federal Reserve's next moves regarding interest rates. 
The Japanese yen experienced a dip against major currencies on Monday as global markets began to stabilize following a tumultuous week. Investors are now shifting their focus to the upcoming U.S. inflation data, which could provide critical insights into the Federal Reserve's next moves regarding interest rates. -
Oil Prices Surge Amid Mideast Tensions and Positive U.S. Economic Data
Oil prices continued their upward trajectory on Monday, marking the fifth consecutive session of gains as the market reacted to easing U.S. recession fears and escalating geopolitical tensions in the Middle East. The ongoing conflict, particularly the brewing tension between Iran and Israel, has become a significant driver of market sentiment, with traders closely monitoring potential repercussions. 
Oil prices continued their upward trajectory on Monday, marking the fifth consecutive session of gains as the market reacted to easing U.S. recession fears and escalating geopolitical tensions in the Middle East. The ongoing conflict, particularly the brewing tension between Iran and Israel, has become a significant driver of market sentiment, with traders closely monitoring potential repercussions. -
Crude Oil Climbs 3% Amid Middle East Conflict and Strong U.S. Labor Market
Oil prices climbed this week, marking a more than 3% gain as a mix of encouraging U.S. labor market data and escalating tensions in the Middle East fueled market volatility. Brent crude futures edged up by 0.3% to $79.38 per barrel, while U.S. West Texas Intermediate (WTI) crude also gained 0.3%, reaching $76.45 per barrel. Both benchmarks are on track to close the week with significant gains, driven by a series of geopolitical and economic factors that have reignited concerns about supply and demand dynamics. 
Oil prices climbed this week, marking a more than 3% gain as a mix of encouraging U.S. labor market data and escalating tensions in the Middle East fueled market volatility. Brent crude futures edged up by 0.3% to $79.38 per barrel, while U.S. West Texas Intermediate (WTI) crude also gained 0.3%, reaching $76.45 per barrel. Both benchmarks are on track to close the week with significant gains, driven by a series of geopolitical and economic factors that have reignited concerns about supply and demand dynamics. -
Jobless Claims Drop, Offering Tentative Relief to US Labor Market Concerns
Initial jobless claims fell more than anticipated last week, providing a glimmer of hope amidst growing fears about the health of the US labor market and the broader economy. According to the Department of Labor, there were 233,000 initial claims for unemployment insurance for the week ending August 3, a decrease from the previous week's 250,000 and below economists' forecasts of 240,000. This decline marks a significant shift from the week ending July 27, when claims reached their highest level since August 2023. 
Initial jobless claims fell more than anticipated last week, providing a glimmer of hope amidst growing fears about the health of the US labor market and the broader economy. According to the Department of Labor, there were 233,000 initial claims for unemployment insurance for the week ending August 3, a decrease from the previous week's 250,000 and below economists' forecasts of 240,000. This decline marks a significant shift from the week ending July 27, when claims reached their highest level since August 2023. -
Oil Prices Steady Amid Middle East Tensions and Supply Concerns
Oil prices remained steady on Thursday following two days of gains, with Brent crude futures falling slightly by 8 cents to $78.25 a barrel and U.S. West Texas Intermediate (WTI) crude rising marginally by 2 cents to $75.25 a barrel. This stabilization comes after significant gains on Wednesday, where Brent increased by 2.4% and WTI by 2.8%, recovering from a sharp drop earlier in the week. 
Oil prices remained steady on Thursday following two days of gains, with Brent crude futures falling slightly by 8 cents to $78.25 a barrel and U.S. West Texas Intermediate (WTI) crude rising marginally by 2 cents to $75.25 a barrel. This stabilization comes after significant gains on Wednesday, where Brent increased by 2.4% and WTI by 2.8%, recovering from a sharp drop earlier in the week.
