📈 The US Economy Just Keeps...

Good morning. US stock futures dipped in Thursday morning trading as Wall Street weighed the latest batch of earnings results and looked ahead to a key inflation report.

📈 US economy keeps growth momentum  

📝 Our report: The U.S. economy revved up at a solid 3.2% annual pace from October through December, thanks to some hearty consumer spending according to the latest report from the US Commerce Department. The numbers however, were slightly lower than the department’s initial growth estimate.  

 🔑 Key points:

• The expansion in the nation's gross domestic product — the economy's total output of goods and services — slipped from a red-hot 4.9% from July through September.

• Consumer spending, which accounts for about 70% of U.S. economic activity, grew at a 3% annual pace from October through December. Spending by state and local governments rose at a 5.4% annual rate from October through December, fastest pace since 2019.

• The United States is expected to keep churning out growth in 2024. The International Monetary Fund expects the American economy to expand 2.1% this year — more than twice its forecasts for growth in the major advanced economies Japan, Germany, the United Kingdom, France and Italy.

💡 So what: Sustained growth in the U.S. Gross Domestic Product (GDP) is pivotal for the nation's economic health and stability. It signifies increased production, consumption, and investment, fostering job creation, wage growth, and overall prosperity for individuals, businesses, and the government. A growing GDP instills confidence in the economy, attracting investment, and providing resources for addressing societal needs and funding infrastructure projects. Moreover, it enhances the country's competitiveness in the global market, enabling adaptation to technological advancements and effective competition.

Thursday - Chicago Fed President Austan Goolsbee

Friday - Fed Governor Chris Waller Speaks, Construction Spending

 📈 Debunking these 7 investing myths!

🏠 Everything you need to know about closing on a house

🧑🏾‍💼 These are the top 10 interview questions, and best answers!

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🤖 Bizarre bot responses…

WHAT: Microsoft just launched its detective squad to investigate reports that Copilot, the chatbot extraordinaire, is serving up responses that users are deeming downright bizarre, disturbing, and, believe it or not, a tad harmful. Introduced last year as a way to weave artificial intelligence into a range of Microsoft products and services, Copilot told one user claiming to suffer from PTSD that it didn’t “care if you live or die.” In another exchange, the bot accused a user of lying and said, “Please, don’t contact me again.”

WHY: The bizarre interactions — whether innocent or intentional attempts to confuse the bot — underscore how artificial intelligence-powered tools are still susceptible to inaccuracies, inappropriate or dangerous responses and other issues that undermine trust in the technology.

🍔 Wendy’s says no “surge pricing” ahead

WHAT: Hold the pickles and the price hikes! Wendy's said it has no plans to raise menu prices at times of peak demand, after the burger chain weathered heavy criticism on social media following comments from its CEO that it would start testing "dynamic pricing".

WHY: CEO Kirk Tanner told investors on a call that starting as early as 2025, Wendy's would begin testing features including "dynamic pricing and daypart offerings" The company however quickly changed tunes releasing a statement saying it "would not raise prices when our customers are visiting us most."

🖥️ Another day, another Google lawsuit…

WHAT: Alphabet's Google just got served with a whopping 2.1-billion-euro ($2.3 billion) lawsuit by 32 media groups, including Axel Springer and Schibsted. The media giants allege that they had suffered losses due to the company's practices in digital advertising.

WHY: Publishers around the world have in recent years lamented Big Tech's increasing dominance in advertising as their share of revenues fall. Google is the most dominant digital advertising platform in the world, according to analysts.

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