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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

TSMC Q3 Revenue Hits Record High; 31.4% YoY Growth in September Confirms AI Demand Surge

TradingKey - According to results released on October 9, Taiwan Semiconductor Manufacturing Company (TSMC), the world’s leading semiconductor foundry, reported NT$330.98 billion in consolidated revenue for September 2025 — the third-highest monthly figure in its history and the strongest September

AMD Shares Surge 43% in Three Days as Analysts Bet on OpenAI Deal to Shatter the Runner-Up Mold

TradingKey - A landmark equity-for-compute deal between AMD and OpenAI has prompted Wall Street to reassess the long-term prospects and competitive standing of this Nvidia challenger. In just one week, nearly 30 analysts updated ratings and price targets, sending AMD’s stock soaring 43% over three

Gaza Peace Plan Challenges Gold’s Record High at $4,000 — Technical Overbought Signals Correction

TradingKey - After gold’s historic breakthrough above $4,000 per ounce, easing geopolitical tensions in the Middle East have cooled investor enthusiasm, while its overbought technical condition is prompting traders to consider profit-taking.

Quantum Meets Medicine: Novo Nordisk and Denmark Back Global Flagship Quantum Venture Fund

TradingKey - As Novo Nordisk faces growing pressure in the U.S. weight-loss drug market, the Danish pharmaceutical giant is accelerating its push into a futuristic frontier: quantum computing for medicine. In a major move, it has partnered with the Danish government to invest in the world’s largest

Tesla Q3 Delivery Preview: After Best Monthly Gain in 2025, Can It Deliver Another Big Move?

TradingKey - Leading electric vehicle manufacturer Tesla (TSLA) is set to release its Q3 2025 delivery report on Thursday, October 2. After Tesla’s stock posted its best monthly performance of 2025 in September, Wall Street expects the automaker — which is regaining brand momentum — to deliver a

How to Trade a U.S. Government Shutdown? Stocks Aren’t a Sure Bet while Gold Shines Brighter

TradingKey - The U.S. government officially shut down on October 1 after the Senate once again rejected a temporary spending bill, triggering the first shutdown in seven years. Despite rising political and economic uncertainty, both U.S. stocks and gold hit new all-time highs. Analysts say the

China-BHP Tensions Mount as State-run CMRG Moves to Block All BHP Iron Ore Shipments

TradingKey - Amid a breakdown in long-term contract negotiations, China has escalated its pressure on BHP Group, Australia’s largest company and the world’s biggest mining firm, imposing a sweeping restriction: halting all new purchases of BHP iron ore shipments.

Japan Sees Weakest Short-Term Bond Auction in 16 Years as BOJ Signals Time to Tighten

TradingKey - As calls for another rate hike grow louder among Bank of Japan (BOJ) policymakers and markets increasingly bet on a move as early as October, Tuesday’s auction of ¥2.7 trillion in two-year Japanese government bonds (JGBs) saw the weakest demand in 16 years.

Bitcoin Skeptic & Strategy’s Top Holder — Vanguard Plans to Enter Bitcoin ETF Race, Challenging BlackRock

TradingKey - Once a vocal “bitcoin skeptic” and currently the largest shareholder of Strategy (MSTR), Vanguard is taking a significant step into crypto: it plans to offer bitcoin and ether ETFs to clients.

From Crypto Native to Wall Street Giant, IBIT Dethrones Deribit as Top Bitcoin Options Venue

TradingKey - BlackRock’s iShares Bitcoin Trust (IBIT) has overtaken Deribit, the long-time favorite among crypto-native traders, to become the world’s largest bitcoin options venue. As the Bitcoin-led crypto market integrates deeper into traditional Wall Street finance, institutional investor

S&P 500 Rides 5-Month Winning Streak Into the Seasonal Golden Window Q4

With only one trading day left in the third quarter, the S&P 500 is on track for its fifth consecutive monthly gain. Having weathered the historically weak Q3, Wall Street now turns to what Bank of America calls “the most wonderful time of the year for equities” — the fourth quarter.

The Battle for the Next Fed Chair: Waller Favored by Economists, Trump May Prefer Hassett

TradingKey - According to a new Financial Times survey, most economists favor Christopher Waller. However, Kevin Hassett appears more likely to be chosen as the next Fed chair by President Trump, given his strong alignment with 'MAGA' economic policies.

Gold Surges Past $3,800 to Record High as Fed Rate Cuts Meet Government Shutdown Gray Rhino

TradingKey - After six consecutive weeks of gains, gold prices continue to climb, breaking through the psychological $3,800 per ounce barrier for the first time in history. The rally is being driven not only by expectations of Federal Reserve rate cuts and a weakening dollar, but also by mounting

Under Government Shutdown Threat, Treasuries Demand Clarity While Stocks Can Thrive on Ambiguity

TradingKey - The risk of a U.S. government shutdown remains elevated, but market reactions in equities and bonds may diverge sharply under the uncertainty. Unlike stocks, the Treasury market isn’t operating under a “no news = good news” logic. Instead, it’s in a “Yes or No” mode: either clear

U.S. Government Shutdown Odds Plunge — Can Wall Street Finally Break the September Effect?

TradingKey - In a last-minute bid to avoid a government shutdown, President Donald Trump met with congressional leaders on September 29 — just hours before federal funding expires. The move caused shutdown probability in prediction markets to drop sharply, reigniting investor optimism that U.S.

The Solana Surge Ahead? Crypto Markets Bet on October ETF Green Light for Staking-Powered Growth

TradingKey - More than two months after the first Solana-based staking ETF launched, multiple SOL staking ETFs are now on the verge of a regulatory breakthrough — with approval expected in October, just as the crypto market emerges from a recent wave of liquidations.

What Happens When the U.S. Government Shuts Down? Why This Time Under Trump 2.0 Could Be Worse

TradingKey - A political standoff between Republicans and Democrats over federal spending has put the U.S. government on the brink of a shutdown by October 1, threatening to halt key government functions and furlough federal workers. While such shutdowns have become routine, this one could be more

U.S. Government Shutdown Looms, But a Postponed NFP Could Be Exactly What Stocks Need

TradingKey - While a government shutdown is typically bad news for the economy, it may paradoxically offer a temporary relief to U.S. stocks: delayed jobs data, weaker private-sector readings, and a potentially more dovish Fed.

What’s Next for Bitcoin After the Liquidation? New Highs Unlikely in 2025, Catalyst Lies in Next Fed Chair, Says Analysts

TradingKey - Bitcoin crashed below its 100-day moving average this week, while spot Ethereum ETFs saw their largest weekly outflow on record, signaling that the crypto market is undergoing a broad deleveraging and liquidation wave following the Federal Reserve’s rate cut. Some analysts believe

An Overview of U.S. Government Shutdowns: Causes and Consequences

TradingKey - A government shutdown is a uniquely American political event. After former President Donald Trump orchestrated the longest and most costly government shutdown in history during his first term, the risk of another shutdown has resurfaced at the start of his second term.

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