Real gross domestic product increased at an annual rate of 3.1% in the third quarter of 2024, according to the Commerce Department’s third estimate. GDP increased 3% in Q2. The update primarily reflected upward revisions to exports and consumer spending that were partly offset by a downward revision to private inventory investment. Imports, which are a subtraction in the calculation of GDP, were revised up.
The University of Michigan Consumer Sentiment Index decreased 3.9% in January compared to the month prior, landing at 71.1, according to final results for the month.
The Office of Foreign Assets Control announced the termination of sanctions on certain Israeli persons in relation to their activities in the West Bank.
Corn and soybean prices have risen by 5.1% and 4.8%, respectively, to start the year. It is likely that markets have not fully priced in potential tariffs.
Existing home sales rose 2.2% in December to a seasonally adjusted annual rate of 4.24 million, the National Association of Realtors reported. Sales increased 9.3% from a year ago.
President Trump directed his administration to develop an “action plan” to advance the development and implementation of artificial intelligence technologies in U.S.
The U.S. Supreme Court ordered a stay of a nationwide injunction preventing enforcement of the Corporate Transparency Act and its requirement for businesses to report their beneficial ownership information to FinCEN. However, other injunctions remain in effect for...
