Jonathan Wong
The Latest
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Meta Leaps Forward in AI: Launches AudioCraft, a New AI Tool for Audio and Music Generation
On August 2, Meta rolled out a new generative AI tool, AudioCraft, aimed at audio and music creation. This tool enables users to generate music and audio based on text prompts. 
On August 2, Meta rolled out a new generative AI tool, AudioCraft, aimed at audio and music creation. This tool enables users to generate music and audio based on text prompts. -
Black Wednesday: The Triple Whammy Shakes U.S. Stock Market
The global financial market experienced a "Black Wednesday," with a comprehensive decline in the U.S. stock market. 
The global financial market experienced a "Black Wednesday," with a comprehensive decline in the U.S. stock market. -
Amazon's Biggest Shake-Up Since $13.7 Billion Whole Foods Acquisition: Fresh Produce for All, E-commerce Integration on the Horizon
Amazon is now taking serious strides towards its offline operations. Ever since its largest acquisition in company history - purchasing Whole Foods for $13.7 billion in 2017 - Amazon has never embarked on such a comprehensive overhaul of its food and sundry goods business. 
Amazon is now taking serious strides towards its offline operations. Ever since its largest acquisition in company history - purchasing Whole Foods for $13.7 billion in 2017 - Amazon has never embarked on such a comprehensive overhaul of its food and sundry goods business. -
U.S. Private Sector Flourishes with 324,000 New Jobs in July, Exceeding Expectations
In July, the U.S. private sector saw a significant surge in job numbers, adding a remarkable 324,000 jobs and exceeding all expectations, according to reports from payroll processing firm ADP and the Stanford Digital Economy Lab. This robust job growth, which surpassed the Dow Jones consensus estimate of 175,000, provides a positive outlook for the U.S. job market, even amidst the Federal Reserve's efforts to slow down the economy and curb inflation. 
In July, the U.S. private sector saw a significant surge in job numbers, adding a remarkable 324,000 jobs and exceeding all expectations, according to reports from payroll processing firm ADP and the Stanford Digital Economy Lab. This robust job growth, which surpassed the Dow Jones consensus estimate of 175,000, provides a positive outlook for the U.S. job market, even amidst the Federal Reserve's efforts to slow down the economy and curb inflation. -
Asian Tech Bubble Alert: AI Stocks in Taiwan and Battery Stocks in South Korea Take a Hit
Since the beginning of this year, AI and battery stocks have been major drivers of Taiwan's and South Korea's substantial market gains. 
Since the beginning of this year, AI and battery stocks have been major drivers of Taiwan's and South Korea's substantial market gains. -
A Major Blow to US Economy: Fitch Cuts Credit Rating to AA+, Prompts Backlash from Yellen and Alleged Interference by Biden Administration
For the first time since it initiated its credit rating for the United States in 1994, Fitch Ratings, one of the three major credit-rating agencies, downgraded the long-term foreign currency debt rating of the US from AAA to AA+ on Tuesday, August 1. The outlook was shifted from negative to stable, marking a major setback after twelve years. 
For the first time since it initiated its credit rating for the United States in 1994, Fitch Ratings, one of the three major credit-rating agencies, downgraded the long-term foreign currency debt rating of the US from AAA to AA+ on Tuesday, August 1. The outlook was shifted from negative to stable, marking a major setback after twelve years. -
Record Weekly Plunge in US Crude Oil Inventories Ignites Market, Fueling Hopes for Multi-month Highs
Following last Tuesday's Eastern time trading, the American Petroleum Institute (API) announced that U.S. crude oil inventories had plummeted by 15.4 million barrels over the previous week. This marked the largest weekly drop on record, far surpassing analysts' expected decrease of 1.3 million barrels. 
Following last Tuesday's Eastern time trading, the American Petroleum Institute (API) announced that U.S. crude oil inventories had plummeted by 15.4 million barrels over the previous week. This marked the largest weekly drop on record, far surpassing analysts' expected decrease of 1.3 million barrels. -
OPEC Sees Steepest Production Decline in Three Years; Russian Oil Shipments Reach Lowest Levels Since January
In July, the Organization of Petroleum Exporting Countries (OPEC) saw a significant decline in oil production of 900,000 barrels per day, bringing the average to 27.79 million barrels per day, according to a survey released by media outlets on August 1. This represents the largest drop since the severe reductions OPEC+ implemented at the height of the COVID-19 crisis in 2020. 
In July, the Organization of Petroleum Exporting Countries (OPEC) saw a significant decline in oil production of 900,000 barrels per day, bringing the average to 27.79 million barrels per day, according to a survey released by media outlets on August 1. This represents the largest drop since the severe reductions OPEC+ implemented at the height of the COVID-19 crisis in 2020. -
South Korea's Exports Experience Decade-Worst Dip as Chip Demand Deteriorates
South Korea, the "canary in the coal mine" of the global economy, has seen its exports drop for ten straight months due to the further deterioration in chip demand. 
South Korea, the "canary in the coal mine" of the global economy, has seen its exports drop for ten straight months due to the further deterioration in chip demand. -
Federal Reserve Survey Reveals Tightening Loan Conditions in U.S. Banking Sector, Could Worsen Further
On July 31, the Federal Reserve stated that the banking industry's lending standards had tightened during the second quarter, with loan demand continuing to be weak. This trend, which began before the turmoil in the banking industry, is still ongoing. 
On July 31, the Federal Reserve stated that the banking industry's lending standards had tightened during the second quarter, with loan demand continuing to be weak. This trend, which began before the turmoil in the banking industry, is still ongoing.
