💨 Is The US Economy Actually Accelerating?

Good morning. US stock futures rose in Thursday morning trading as investors continue to parse earnings reports and await the release of economic data.

🪧 US business activity rumbles on

📝 Our report: January brought more expansion to US business activity than a magician's hat brings out rabbits! According to the latest data from S&P Global Market Intelligence, the S&P Global flash composite output index advanced to 52.3, fueled mainly by stronger services activity. Readings greater than 50 indicate expansion.  

 🔑 Key points:

• “Confidence has also been buoyed by hopes of lower inflation in 2024, easing the cost of living squeeze and facilitating the path to lower interest rates,” Chris Williamson, chief business economist at S&P Global Market Intelligence, said in a statement.

• In a welcome sign for Federal Reserve policymakers, the S&P Global measure of selling prices registered the weakest growth since May 2020, dragged down by service providers.

• An index of manufacturers’ selling prices, on the other hand, increased to the highest level since April as producers passed on higher transportation and fuel costs.

💡 So what: US business expansion is crucial for the overall health and vitality of the economy. When businesses grow, they create jobs, stimulate consumer spending, and contribute to innovation and technological advancement. A robust business environment is often indicative of a thriving economy, attracting investment and fostering economic stability.

Thursday - US GDP Q4

Friday - Personal Income, Personal Spending

 💸 Stan Druckenmiller shares his investing principles for success!

🧑🏾‍💼 Looking for a new job? Follow these strategies to get ahead!

💲Business owners worry about survival in 2024

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🧾 Biden admin goes after more junk fees

WHAT: The Biden administration is on a roll, proposing to ban yet another type of bank "junk fee." This time, they're setting their sights on those sneaky fees banks love to charge when your transaction decides to take a detour and gets declined in real time. The Consumer Financial Protection Bureau’s proposal focused on a narrower set of transactions: when a customer tries to withdraw money, send a payment immediately or make a purchase and that transaction is declined at the time of the transaction due to lack of sufficient funds.

WHY: Unlike the recently announced overdraft regulations, the bureau's proposed regulations would apply to all banks and credit unions, even small banks. The overdraft rule applied only to larger banks with more than $10 billion in assets.

📱 That’s $3 trillion with a T!

WHAT: Microsoft just joined the exclusive $3 trillion club, proving that in the world of tech, AI optimism is the golden ticket as of late. Much of the gain reflects investor enthusiasm over AI and its potential to accelerate growth in both earnings and revenue. Microsoft, through its partnership with OpenAI, is seen as one of the biggest beneficiaries of AI. It has released many AI-supported services to customers.

WHY: The Redmond, Washington-based company is one of the so-called Magnificent 7 that fueled the market’s advance over 2023, gaining about 57%.

💰 GM heads to Brazil with billion $ investment

WHAT: General Motors is ready to sprinkle 7 billion reais ($1.42 billion) into Brazil's automotive scene from now until 2028, all in the name of "sustainable mobility." The sum will fund a "complete renewal" of the automaker's vehicle portfolio in Latin America's largest economy and will help develop technologies and create new businesses, GM said in a statement.

WHY: GM's bet is part of the first phase of what it called a new investment cycle in Brazil, which aims to "strengthen the company's competitiveness and the sustainability of its operations and products."

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