Jerry Lin
The Latest
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Oil Prices Gain as PCE Data Supports Demand Outlook Ahead of Key OPEC+ Meeting
Oil prices are showing resilience, rebounding on Friday and erasing weekly losses following the release of soft Personal Consumption Expenditures (PCE) data and anticipation of the upcoming OPEC+ meeting. The market is keenly focused on the potential extension of current production cuts into 2025, aimed at maintaining oil prices near $80 per barrel. 
Oil prices are showing resilience, rebounding on Friday and erasing weekly losses following the release of soft Personal Consumption Expenditures (PCE) data and anticipation of the upcoming OPEC+ meeting. The market is keenly focused on the potential extension of current production cuts into 2025, aimed at maintaining oil prices near $80 per barrel. -
Mortgage Rates Top 7% Again Amid Federal Reserve's Inflation Concerns
Mortgage rates have once again surged past 7%, hitting an average of 7.03% for a 30-year fixed mortgage this week, up from 6.94% the previous week, according to Freddie Mac. This marks a return to higher rates that have predominantly hovered above 7% since mid-April, after a brief period of decline. 
Mortgage rates have once again surged past 7%, hitting an average of 7.03% for a 30-year fixed mortgage this week, up from 6.94% the previous week, according to Freddie Mac. This marks a return to higher rates that have predominantly hovered above 7% since mid-April, after a brief period of decline. -
U.S. Economic Growth Revised Downward for Q1 as Jobless Claims Inch Up
The U.S. economy grew at a slower pace than initially estimated in the first quarter, with the Commerce Department revising the annualized growth rate to 1.3%, down from the previously reported 1.6%. This revision reflects a deceleration from the 3.4% growth seen in the final quarter of 2023, highlighting a softer start to the year amid persistent economic uncertainties. 
The U.S. economy grew at a slower pace than initially estimated in the first quarter, with the Commerce Department revising the annualized growth rate to 1.3%, down from the previously reported 1.6%. This revision reflects a deceleration from the 3.4% growth seen in the final quarter of 2023, highlighting a softer start to the year amid persistent economic uncertainties. -
Gemini and Genesis Return $2 Billion in Crypto to Customers Amidst Legal and Financial Turmoil
Gemini and Genesis, two major players in the crypto market, have successfully returned over $2 billion in digital assets to 232,000 retail customers. This restitution comes as part of the resolution of the Gemini Earn program's bankruptcy issues, marking a substantial 242% return on assets that were locked up since January 2023. 
Gemini and Genesis, two major players in the crypto market, have successfully returned over $2 billion in digital assets to 232,000 retail customers. This restitution comes as part of the resolution of the Gemini Earn program's bankruptcy issues, marking a substantial 242% return on assets that were locked up since January 2023. -
BOJ Signals Possible Rate Hike Amid Yen Depreciation Concerns
The Bank of Japan (BOJ) is contemplating a potential interest rate hike if the yen's depreciation significantly impacts inflation, according to board member Seiji Adachi. In a speech delivered on Wednesday, Adachi outlined the circumstances under which the central bank might adjust its monetary policy sooner than anticipated. 
The Bank of Japan (BOJ) is contemplating a potential interest rate hike if the yen's depreciation significantly impacts inflation, according to board member Seiji Adachi. In a speech delivered on Wednesday, Adachi outlined the circumstances under which the central bank might adjust its monetary policy sooner than anticipated. -
ConocoPhillips to Acquire Marathon Oil in $17.1 Billion All-Stock Deal
ConocoPhillips announced on Wednesday its agreement to acquire Marathon Oil in an all-stock transaction valued at $17.1 billion. This acquisition marks a significant move in the ongoing consolidation wave within the oil and gas industry, enhancing ConocoPhillips' position in key U.S. shale fields. 
ConocoPhillips announced on Wednesday its agreement to acquire Marathon Oil in an all-stock transaction valued at $17.1 billion. This acquisition marks a significant move in the ongoing consolidation wave within the oil and gas industry, enhancing ConocoPhillips' position in key U.S. shale fields. -
Dollar Declines Ahead of Key Inflation Data as Euro Strengthens
The U.S. dollar edged down on Tuesday, marking its first monthly decline in 2024, as traders anticipated crucial inflation data from the U.S. and the eurozone later this week. The greenback's dip came amidst heightened expectations that major central banks might soon adjust their monetary policies. 
The U.S. dollar edged down on Tuesday, marking its first monthly decline in 2024, as traders anticipated crucial inflation data from the U.S. and the eurozone later this week. The greenback's dip came amidst heightened expectations that major central banks might soon adjust their monetary policies. -
Oil Prices Stabilize Amid OPEC+ Supply Curbs and Summer Fuel Demand
Global oil prices steadied on Tuesday as market participants balanced the prospect of OPEC+ maintaining supply curbs with the anticipation of strong U.S. summer fuel demand against concerns about prolonged elevated U.S. interest rates. This stability followed a modest rise in prices on Monday, driven by expectations of increased fuel consumption at the onset of the U.S. summer driving season. 
Global oil prices steadied on Tuesday as market participants balanced the prospect of OPEC+ maintaining supply curbs with the anticipation of strong U.S. summer fuel demand against concerns about prolonged elevated U.S. interest rates. This stability followed a modest rise in prices on Monday, driven by expectations of increased fuel consumption at the onset of the U.S. summer driving season. -
ECB Officials Signal Rate Cut as Inflation Eases
The European Central Bank (ECB) is on the brink of implementing an interest rate cut next week, following significant signals from key officials. Olli Rehn, a member of the ECB's Governing Council and the head of Finland's central bank, emphasized the sustained decline in inflation within the euro area, suggesting that conditions are favorable for easing monetary policy. 
The European Central Bank (ECB) is on the brink of implementing an interest rate cut next week, following significant signals from key officials. Olli Rehn, a member of the ECB's Governing Council and the head of Finland's central bank, emphasized the sustained decline in inflation within the euro area, suggesting that conditions are favorable for easing monetary policy. -
SEC Approves Ethereum ETFs, Marking Major Milestone for Crypto Industry
The U.S. Securities and Exchange Commission (SEC) has approved the listing of eight exchange-traded funds (ETFs) that hold ether (ETH-USD), the native cryptocurrency of the Ethereum blockchain. 
The U.S. Securities and Exchange Commission (SEC) has approved the listing of eight exchange-traded funds (ETFs) that hold ether (ETH-USD), the native cryptocurrency of the Ethereum blockchain.
