Esteban Ma
573 Articles
Esteban Ma, CFA Level 2 CANDIDATE, is a financial editor at TradingKey, mainly focusing on covering equities, cryptocurrencies and commodities. With two years of experience in crypto at Gate.io Research and three years in comprehensive finance, he specializes in cryptocurrency industry analysis and macroeconomic analysis.
He passed the Certificate of Security Qualification(CSQ) and Certificate of Futures Qualification(CFQ).
Written by Esteban Ma
Reviewed by Esteban Ma
July CPI: Inflation Story Changed But Not Over — Services Inflation Now More Problematic
TradingKey - While Trump administration officials have offered an optimistic interpretation of the relatively mild July CPI report, and capital markets have responded with record gains in risk assets, economists warn that the Federal Reserve’s battle against goods inflation is not fully over, and
Wed, Aug 13
Tariff-Inflation Skeptics Win? Trump and “Allies” Celebrate July CPI, Mock Goldman CEO
TradingKey - After the U.S. Bureau of Labor Statistics released the July CPI report showing overall inflation below expectations, U.S. President Donald Trump declared that it is now proven fact that "tariffs do not cause inflation." Treasury Secretary Scott Bessent, newly nominated Fed governor
Wed, Aug 13
Can Circle Escape the Sell-Off? Impressive Q2 Earnings Overshadowed by Losses and “New Shares” Anxiety
TradingKey - Circle (CRCL) released its first earnings report since its IPO just two months ago. Initial market reaction was positive, with shares surging 16% at the open on strong revenue growth and nearly doubled USDC circulation. However, concerns over wider losses, rising competition, and
Wed, Aug 13
Shock Sale at Berkshire Hathaway: Longtime Supporter and Berkshire Director’s Firm Sells 30% of Holdings
TradingKey - As shares of Berkshire Hathaway, the company led by legendary investor Warren Buffett, retreated from recent highs, a notable move by one of its board members has raised concerns. Davis Selected Advisers, an investment firm affiliated with Chris Davis — a long-time supporter of Buffett
Tue, Aug 12
Intel CEO Lip-Bu Tan “Closes the Gap” with Trump — Government Support Could Be Key to Turnaround
TradingKey - Less than a week after U.S. President Donald Trump publicly criticized Intel CEO Lip-Bu Tan, calling him “highly conflicted” and demanding his immediate resignation, a meeting between the two appears to have shifted the narrative. The semiconductor giant’s CEO has used corporate diploma
Tue, Aug 12
From AI Darling to Sell-Off Target: BigBear.ai Slumps 30%, C3.ai Falls 26% After Earnings Disaster
TradingKey - At the beginning of the year, Wall Street widely predicted that 2025 would mark the shift from “hardware-driven” to “software-driven” AI momentum — heralding it as the “year of AI software.” However, the latest earnings season has revealed a different story: while a select few AI
Tue, Aug 12
U.S. IPO Profitability Test: Can Circle and CoreWeave Justify Their Surging Stock Prices?
TradingKey - On Tuesday, August 12, Circle (CRCL) and CoreWeave (CRWV) will respectively release their first and second earnings reports since going public. Both stocks have more than doubled since their IPOs in 2025, but concerns over their business models and profitability remain.
Tue, Aug 12
What to Expect From the U.S. July CPI Report: Stalled Tariff Repricing Eases Inflation Fears and Supports Equities in August
TradingKey - On Tuesday, August 12, the U.S. Bureau of Labor Statistics will release the July Consumer Price Index (CPI) report — a key data point that could shape Federal Reserve policy and influence the trajectory of U.S. equities during what Wall Street calls the historically weak “dangerous
Mon, Aug 11
“Pay to Play” in China? NVIDIA and AMD to Hand Over 15% Chip Revenue to Buy Export Licenses
TradingKey - Beyond the “investment-for-tariff” model, the U.S. government has introduced a new and unprecedented trade tactic: requiring American tech giants to hand over a percentage of their foreign sales revenue in exchange for export licenses. This “pay-to-play” scheme — described by some as
Mon, Aug 11
Ethereum Surges 24% in a Week, Hits 4-Year High — A Bigger Winner in the Trump Era?
TradingKey - On August 10, Ethereum (ETH), the world’s second-largest cryptocurrency, broke through $4,300, marking its first close above $4,000 in 2025 and reaching its highest level since late 2021. The rally — a 24% weekly gain — outpaced all major crypto peers, including Bitcoin (+6%), XRP (+9%)
Mon, Aug 11
U.S. Treasury Auctions Face “Triple Weakness” in August — 30-Year Demand Echoes May’s Bond Market Nightmare
TradingKey - After lackluster auctions of 3-year and 10-year Treasuries earlier in the week, the 30-year bond auction on Thursday, August 7 also showed signs of weak demand — marking a troubling “three-peat” of soft results and reviving memories of May’s long-end bond market turmoil.
Fri, Aug 8
Stephen Miran and the “MAGA-ization” of the Fed: Mar-a-Lago Architect, Crypto Advocate, and Fed Reformer
TradingKey - In a move that could reshape the Federal Reserve’s policy direction, President Donald Trump has nominated Stephen Miran, current Chair of the White House Council of Economic Advisers, to fill the vacant seat left by Governor Adriana Kugler. Miran’s appointment — even if temporary — has
Fri, Aug 8
Duolingo Soars 20% After Hours — AI Strategy Survives Backlash, Strong Q2 Growth and Expansion Beyond Language
TradingKey - Despite backlash over its AI-driven strategy, Duolingo (DUOL) delivered a blowout second-quarter performance on Wednesday, August 6, reporting revenue and subscriber growth that exceeded expectations and raising its full-year guidance. The strong results sent shares up nearly 20% in
Thu, Aug 7
Apple’s U.S. Investment and Semiconductor Tariff Exemptions Could Lift Apple-Linked and Chip Stocks
TradingKey - While President Donald Trump’s announcement of a 100% tariff on imported semiconductors initially sparked alarm, analysts say the move may be more symbolic than impactful — especially given the broad exemptions for companies investing in or manufacturing in the U.S. The policy is now
Thu, Aug 7
Apple Shares Surge 5% — $100 Billion U.S. Investment Secures Tariff Exemption, Company Back on Track
TradingKey - Apple (AAPL) posted its largest single-day gain in over three months, rising 5.09% to $213.25 on Wednesday, August 6, after CEO Tim Cook announced a massive new U.S. investment plan — effectively securing a tariff exemption from the Trump administration.
Thu, Aug 7
Lucid Shares Drop 7% Pre-Market — Production Cut Amid Wider EV Pain from Trump Policies
TradingKey - On Wednesday, August 6, Lucid (LCID) fell 7% in pre-market trading, while fellow EV maker Rivian (RIVN) dropped 5%, after both companies cited the negative impact of Trump administration policies — including tariffs and the rollback of EV incentives — on their Q2 results and full-year
Wed, Aug 6
OpenAI's Valuation Potentially Soars to $500 Billion — New Peak for Global AI Unicorns
TradingKey - ChatGPT developer OpenAI is in early-stage talks to raise capital through a private sale of employee shares at a staggering $500 billion valuation, according to Bloomberg, citing people familiar with the matter. This would mark a 67% increase from its previous $300 billion valuation
Wed, Aug 6
OpenAI Breaks the Mold: Releases “Open-Weight” Models and Partners with Amazon to Break Microsoft’s Monopoly
TradingKey - Despite maintaining a leading position in the AI model race, OpenAI faces intensifying competition and growing concerns over its reliance on a single cloud partner — Microsoft. In response, the company is pursuing a new strategy: open-weight models and diversified cloud partnerships.
Wed, Aug 6
U.S. Short-Term Debt Strategy Takes Off — Record $100 Billion 4-Week Bill Auction Just the Start
TradingKey - On Tuesday, August 5, the U.S. Department of the Treasury announced it will auction $100 billion in 4-week Treasury bills on Thursday — the largest single issuance ever for this maturity. The move aligns with the Trump administration’s “Big Beautiful Bill” debt ceiling increase and a
Wed, Aug 6
Q2 Earnings Show AMD’s Strength Beyond the Blemishes — Sales to China Could Be a Game-Changer
TradingKey - AMD, the world’s second-largest AI chipmaker after NVIDIA, delivered a record-breaking second-quarter performance on August 5, with revenue and guidance exceeding expectations. However, investors reacted negatively to uncertainty around the resumption of chip exports to China, sending
Wed, Aug 6
