Bonds & Stocks
Stocks rose after data showed the US economy remains solid, with big tech leading gains. The US economy grew 2.3% in the fourth quarter, beating expectations, and economists believe the economy is "doing just fine" and will support risk assets.
Economy
The US economy expanded at a solid pace at the end of 2024, fueled by a generous tailwind from consumer spending that more than offset drags from a strike at Boeing Co. and much leaner inventory investment. Inflation-adjusted gross domestic product increased an annualized 2.3% in the fourth quarter after rising 3.1% in the prior three-month period, according to the government’s initial estimate published Thursday. The median forecast in a Bloomberg survey of economists called for a 2.6% growth.
World
The European Central Bank lowered borrowing costs for a fifth time since June, with the region’s economy stalling and the 2% inflation target in reach.