Esteban Ma
328 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
Humanoid Robot Market: Development, Prospect, Supply Chain, and Stocks to Watch
TradingKey - Having missed out on NVIDIA in the AI hardware field and failed to keep up with Palantir in the AI software field, those looking to continue riding the AI wave may find humanoid robots—the "best carriers of AI"—to be the next explosive track. Almost everyone is predicting that 2025 ...
Tue, Jul 1
Morgan Stanley Outlook for H2 2025: Three Reasons Why the S&P 500 Can Keep Rising to New Highs
TradingKey - Amid ongoing trade uncertainty and worsening fiscal deficit concerns, the S&P 500 still managed to close the first half of 2025 at a record high. Looking ahead to the second half of the year, Morgan Stanley analysts believe this rally can continue, supported by three key factors.
Mon, Jun 30
2025 Mid-Year Review: The Reversal of the “End of U.S. Exceptionalism” — Strongest Bond Rally in 5 Years, New Equity Highs
TradingKey - In the first half of 2025, concerns over the end of U.S. exceptionalism dominated global investor sentiment, as Trump’s tariff policies triggered frequent sell-offs across stocks, bonds, and the dollar. However, by June, a shift was underway — with U.S. equities hitting record highs ...
Mon, Jun 30
Trump to Keep 25% Auto Tariff on Japan — Adding Pressure to Japanese Industrial Output
TradingKey - As U.S.-Japan trade negotiations enter a critical phase, President Donald Trump has warned that he may not lift the proposed 25% tariff on Japanese auto imports, potentially worsening the downward pressure on Japan’s already struggling industrial sector.
Mon, Jun 30
2025 Mid-Year Dollar Wrap: Worst First-Half Performance Since the 1970s — Is the Slide Set to Continue?
TradingKey - As the Trump administration’s aggressive tariff policies shift from inflation driver to catalyst for falling U.S. exceptionalism and large-scale capital outflows, combined with rising concerns over Federal Reserve independence and growing expectations for rate cuts, the U.S. dollar has
Mon, Jun 30
Circle and KakaoPay Shares Tumbled Roughly 20% — Stablecoin Stock Rally Faces Valuation Reality Check
TradingKey - A strong rally in stablecoin-related stocks swept the markets in June, with shares of Circle (CRCL.US) and KakaoPay (377300.KS) more than doubling amid rising investor optimism. However, last week saw both stocks fall sharply — with Circle dropping 24.91% over five days, and KakaoPay...
Mon, Jun 30
Focus Shifts from Tariffs to Tax Cuts and Rate Easing – BofA Warns of Policy-Driven Bubble, AI Remains a Bright Spot
TradingKey - The easing of trade war tensions and reduced geopolitical risks have supported bullish sentiment in U.S. equities, with the S&P 500 nearing all-time highs. As policy focus shifts from tariffs to tax cuts and potential interest rate cuts, U.S. equity analysts at Bank of America warn that
Fri, Jun 27
U.S. Stock Short-Squeeze Slowing Down? Investors Rush Into High-Beta Stocks While UBS & Goldman Issue Sell Calls
TradingKey - With the tariff negotiation deadline approaching, and amid worsening GDP and consumer data, U.S. stocks are surprisingly nearing record highs — making this short-squeeze rally seem somewhat “strange.” Wall Street analysts are urgently warning investors to consider trimming positions.
Fri, Jun 27
Trump’s "899 Revenge Tax" Backs Down – Australian Funds Reconsider Dollar Asset Strategies
TradingKey - Due to deteriorating U.S. fiscal prospects and the so-called Section 899 capital tax proposed under Trump’s tax bill, several major Australian fund managers had begun considering reducing their exposure to U.S. dollar assets. However, this sentiment started to shift within a week after
Fri, Jun 27
Bank of Japan Mimics the “Fed Speak”, Flagging “Underlying Inflation” Risks
TradingKey - Much like Federal Reserve Chair Jerome Powell, officials at the Bank of Japan (BOJ) have taken an ambiguous stance on further monetary policy adjustments. Despite meeting the prerequisite for rate hikes — inflation above the 2% target — the BOJ has maintained a relatively dovish ...
Fri, Jun 27
U.S. Q1 Stagflation Confirmed – Could Q2 GDP Growth Rebound Above 3%?
TradingKey - Newly released data from the U.S. Department of Commerce shows that the U.S. economy unexpectedly contracted in the first quarter of 2025, reversing a three-year growth trend. Combined with upward revisions to inflation indicators, this confirms that the U.S. economy entered a ...
Fri, Jun 27
U.S. Bank Stocks to Rally in the Second Half of 2025: Bowman, Regulation, Trading Activity, and Rate Cuts
TradingKey - As U.S. tech stocks hit new highs, Wall Street analysts expect the next sector poised for strong performance could be U.S. bank stocks, driven by potential easing of capital and merger regulations by the Federal Reserve, along with a surge in trading activity.
Thu, Jun 26
Is Pure AI Trading Outdated? Wall Street Eyes the Next GPT Moment: The Rise of Sci-Fi ETFs
TradingKey - After more than two years of red-hot momentum, AI-driven trading is now facing questions over its long-term commercial viability. According to Bloomberg, Wall Street is turning to the ETF market in search of the next frontier in technology investing — one that could include humanoid ...
Thu, Jun 26
Trump’s Tax Bill Races Toward Deadline – Economists Warn: GDP and Deficit Forecasts Are Just Beautiful Bubbles!
TradingKey - U.S. President Donald Trump’s proposed tax cut and spending bill is racing toward a self-imposed July 4 deadline, despite deep divisions among lawmakers over its key provisions. What's surprising is that the official economic forecasts from Trump-aligned officials regarding the bill’s..
Thu, Jun 26
U.S. May PCE Preview: Tariff Inflation Effects Continue to Delay – Can the U.S. Market Ignore the Report?
TradingKey - On Friday, June 27, the U.S. will release Personal Consumption Expenditures (PCE) price index for May, widely regarded as the Federal Reserve’s preferred inflation gauge and a key reference for FOMC officials in assessing inflation trends and shaping monetary policy decisions.
Thu, Jun 26
Taiwan Dollar Surges to Three-Year High – Will Its Strength Keep Growing?
TradingKey - Against the backdrop of a weakening U.S. dollar, increased attractiveness of Taiwanese stocks, and rising foreign exchange sales by local exporters, the New Taiwan Dollar (TWD) surged on Thursday, approaching the key level of 29 against the U.S. dollar — marking a three-year high.
Thu, Jun 26
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OpenAI Plans to Enter the Autonomous Vehicle Race: Can Its New AI Model Challenge Tesla’s Robotaxi and Waymo?
TradingKey - While Google’s Waymo and Tesla's newly launched Robotaxi currently dominate the autonomous driving space, OpenAI — armed with tools like ChatGPT and Sora — is reportedly preparing to enter the arena. Some analysts suggest that OpenAI could develop a new type of autonomous driving ...
Wed, Jun 25
The "Anomaly" of Low U.S. Unemployment: Labor Market Differential Halved, Long-Term Unemployment Hits Three-Year High
TradingKey - Although the U.S. unemployment rate remains at a relatively low level of 4.2%, the seemingly calm or stable labor market is showing real cracks: consumer sentiment regarding job prospects has deteriorated, and the long-term unemployment rate has risen to a three-year high, with an ...
Wed, Jun 25
Apple's Potential Acquisition of Perplexity: A Game-Changer for Its AI Narrative?
TradingKey - As the tech-oriented Nasdaq 100 Index hits record highs, Apple’s stock has still declined by 20% year-to-date in 2025. Concerns over its lagging progress in AI and the negative impact of tariffs on iPhone sales have yet to fully dissipate. News of a potential acquisition of Perplexity..
Wed, Jun 25
What Is a Negative Interest Rate? How Do Europe and Japan Differ in Motivation Behind NIRP?
TradingKey - As Japan’s wage-inflation outlook improves, the Bank of Japan (BOJ) officially ended its era of negative interest rates in 2024. However, under persistent deflationary pressures and a strong Swiss franc, the Swiss National Bank (SNB) cut its policy rate to zero in June 2025, signaling..
Wed, Jun 25
