Economists were looking for a 2.9% rise for GDP in today’s fourth-quarter report, according to Econoday.com’s consensus forecast. The actual number, the Bureau of Economic Analysis advised, was softer than expected, decelerating to 2.6% — the slowest since the weak 1.2% gain in 2017’s Q1. The latest rise is still a decent number, although no one’s popping champagne corks over the results. On the other hand, looking through the quarterly figures suggests that the recent improvement in economic output still has upside momentum.
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Shares of technology stocks remain the trend leader but healthcare’s recent strength suggests a changing of the guard may be near, based on a set of sector ETFs ranked by one-year return. Meanwhile, telecom is the only US sector nursing a loss for the year-over-year change, although real estate stocks are close to dipping into negative terrain.
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Trump denies that he tried to fire special counsel for Russia probe: LA Times
Demand surge for risk assets triggers “tactical pullback” warning: Bloomberg
US economy expected to post brisk growth in today’s Q4 GDP report: Reuters
US Leading Index up in Dec, predicting “strong economic growth” for 1H 2018: CB
US jobless claims rose last week to 233,000, but remain low: WSJ
New home sales in US fell more than forecast in Dec: Bloomberg
Manufacturing growth picked up in Kansas City Fed region: Bond Buyer
Atlanta Fed’s revised Q4 GDP nowcast holds steady at 3.4%: Atlanta Fed