Jerry Lin
The Latest
-
Fed Chair Powell Signals Possible Rate Cuts Amid Inflation Easing
Federal Reserve Chair Jerome Powell indicated on Tuesday that recent data suggesting a decline in inflation could strengthen the case for an interest rate cut, signaling potential changes in monetary policy. Speaking before the Senate Banking Committee, Powell noted that while the first quarter data had not supported such confidence, recent inflation readings have shown modest progress. 
Federal Reserve Chair Jerome Powell indicated on Tuesday that recent data suggesting a decline in inflation could strengthen the case for an interest rate cut, signaling potential changes in monetary policy. Speaking before the Senate Banking Committee, Powell noted that while the first quarter data had not supported such confidence, recent inflation readings have shown modest progress. -
Gold Prices Drop Over 1% Amid Growing Risk Appetite in Markets
Gold prices took a hit on Monday, falling more than 1% as a surge in equities and profit-taking by investors contributed to the decline. This drop comes after a sharp rally in the previous session fueled by expectations that the U.S. Federal Reserve might cut interest rates as early as September. 
Gold prices took a hit on Monday, falling more than 1% as a surge in equities and profit-taking by investors contributed to the decline. This drop comes after a sharp rally in the previous session fueled by expectations that the U.S. Federal Reserve might cut interest rates as early as September. -
Oil Prices Set for Fourth Consecutive Weekly Gain Amid Robust Demand and Supply Concerns
U.S. crude oil prices remained steady on Friday, poised to secure a fourth consecutive weekly gain driven by robust demand and tightening supply conditions. This trend underscores the persistent bullish sentiment in the market as analysts forecast a tighter oil market for the third quarter, bolstered by rising summer fuel demand and ongoing supply constraints. 
U.S. crude oil prices remained steady on Friday, poised to secure a fourth consecutive weekly gain driven by robust demand and tightening supply conditions. This trend underscores the persistent bullish sentiment in the market as analysts forecast a tighter oil market for the third quarter, bolstered by rising summer fuel demand and ongoing supply constraints. -
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.
