Jonathan Wong
The Latest
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Tesla's Grit in the Global Price War: Profits Shrink but Musk Remains Confident
After a year-long "global price war," Tesla's gross margin has dropped from 25% in the same period last year to 18.2% in this year's Q2. Its profitability has been significantly squeezed, but Elon Musk seems to maintain considerable confidence. 
After a year-long "global price war," Tesla's gross margin has dropped from 25% in the same period last year to 18.2% in this year's Q2. Its profitability has been significantly squeezed, but Elon Musk seems to maintain considerable confidence. -
Tesla Slips as Cybertruck and Robotaxi Details Remain Elusive in Earnings Call
Moreover, Musk and other Tesla executives indicated that production is expected to decline in the third quarter due to summer factory upgrades, which led to a roughly 4% dip in the company's stock price after trading hours. 
Moreover, Musk and other Tesla executives indicated that production is expected to decline in the third quarter due to summer factory upgrades, which led to a roughly 4% dip in the company's stock price after trading hours. -
No More Stocks: Proposed U.S. Legislation Seeks to Prohibit Stock Trading by Government Officials
In an attempt to reduce potential conflicts of interest, U.S. Senators are set to introduce a bill this week that will explicitly prohibit members of Congress and federal government "public servants" from trading individual stocks. 
In an attempt to reduce potential conflicts of interest, U.S. Senators are set to introduce a bill this week that will explicitly prohibit members of Congress and federal government "public servants" from trading individual stocks. -
Netflix's Strategic Shifts Pay Off: Basic Plan Axed, Password-Sharing Crackdown, and a Surge in Subscribers
In a strategic move that has paid off, Netflix has stopped offering its basic membership plan in the US and has begun to crack down on password sharing. These changes have led to a surge in new subscribers, with the company adding 5.9 million new paid subscribers in the second quarter, beating Wall Street expectations. 
In a strategic move that has paid off, Netflix has stopped offering its basic membership plan in the US and has begun to crack down on password sharing. These changes have led to a surge in new subscribers, with the company adding 5.9 million new paid subscribers in the second quarter, beating Wall Street expectations. -
U.S. Strategic Oil Reserves at 40-Year Low, Refilling Could Be Costly and Time-Consuming
Simultaneously, given that the U.S.'s strategic oil reserves are at a forty-year low, the American economy may be more susceptible to shocks from oil price fluctuations. Some analysts assert this means that, should domestic crude oil supply shrink, the U.S. could become largely dependent on oil exporting countries such as Saudi Arabia and Russia. 
Simultaneously, given that the U.S.'s strategic oil reserves are at a forty-year low, the American economy may be more susceptible to shocks from oil price fluctuations. Some analysts assert this means that, should domestic crude oil supply shrink, the U.S. could become largely dependent on oil exporting countries such as Saudi Arabia and Russia. -
SEC Chair Warns of AI Risk to Financial Stability, Urges Regulatory Revisions
SEC Chair Gary Gensler cautioned on Monday that artificial intelligence (AI) poses a risk to financial stability. He suggested that the proliferation of AI could necessitate governments worldwide to substantially revise regulations to maintain global financial stability. Regulatory bodies must address the challenges emerging technologies bring. Gensler affirmed that the SEC staff is weighing the need for new rules. 
SEC Chair Gary Gensler cautioned on Monday that artificial intelligence (AI) poses a risk to financial stability. He suggested that the proliferation of AI could necessitate governments worldwide to substantially revise regulations to maintain global financial stability. Regulatory bodies must address the challenges emerging technologies bring. Gensler affirmed that the SEC staff is weighing the need for new rules. -
A Divided House: The Controversial Defense Bill and the Battle Over Social Policies
In a move that has sparked controversy and highlighted the deep divisions in American politics, the House of Representatives, led by the Republican majority, has passed a significant defense policy bill. The legislation, which authorizes a national defense budget of $886 billion for fiscal 2024, has been met with opposition due to the inclusion of several contentious social policy amendments. 
In a move that has sparked controversy and highlighted the deep divisions in American politics, the House of Representatives, led by the Republican majority, has passed a significant defense policy bill. The legislation, which authorizes a national defense budget of $886 billion for fiscal 2024, has been met with opposition due to the inclusion of several contentious social policy amendments. -
Dollar Dips Amid Cooling Inflation: A Game Changer on Wall Street
New data from the U.S. Bureau of Labor Statistics shows that the year-on-year increase in the U.S. Consumer Price Index (CPI) in June continued to fall from 4% in May to 3%, lower than the predicted 3.1%. This marked a 12-month decline and the lowest point since March 2021. The year-on-year growth rate of the Producer Price Index (PPI) in June slowed down from 1.1% in the previous month to almost no growth at 0.1%, lower than the anticipated 0.4% and a record low since August 2020. 
New data from the U.S. Bureau of Labor Statistics shows that the year-on-year increase in the U.S. Consumer Price Index (CPI) in June continued to fall from 4% in May to 3%, lower than the predicted 3.1%. This marked a 12-month decline and the lowest point since March 2021. The year-on-year growth rate of the Producer Price Index (PPI) in June slowed down from 1.1% in the previous month to almost no growth at 0.1%, lower than the anticipated 0.4% and a record low since August 2020. -
OpenAI's ChatGPT Under Official Investigation by U.S. Regulators for the First Time
OpenAI, the creator of the chatbot, ChatGPT, is now facing an investigation by the U.S. Federal Trade Commission (FTC), according to media reports on Thursday. This probe, initiated through a civil investigative demand (CID) letter sent to OpenAI, mainly focuses on whether the chatbot has caused harm to individuals by disseminating false information and how OpenAI has managed such risks. 
OpenAI, the creator of the chatbot, ChatGPT, is now facing an investigation by the U.S. Federal Trade Commission (FTC), according to media reports on Thursday. This probe, initiated through a civil investigative demand (CID) letter sent to OpenAI, mainly focuses on whether the chatbot has caused harm to individuals by disseminating false information and how OpenAI has managed such risks. -
St. Louis Fed President James Bullard to Step Down, Set to Helm Purdue's Business School
In a significant development that marks the end of an era at the Federal Reserve Bank of St. Louis, President James Bullard has announced his decision to step down from his role. Bullard, who has been at the helm of the St. Louis Fed since 2008, will transition to academia as the inaugural dean of Purdue University's Mitchell E. Daniels, Jr. School of Business. 
In a significant development that marks the end of an era at the Federal Reserve Bank of St. Louis, President James Bullard has announced his decision to step down from his role. Bullard, who has been at the helm of the St. Louis Fed since 2008, will transition to academia as the inaugural dean of Purdue University's Mitchell E. Daniels, Jr. School of Business.
