(Bloomberg) -- The US economy is setting up to take a major step back in the first quarter after a pair of reports showed weaker consumer spending and a dramatic widening of the trade deficit at the start of the year, according to the Federal Reserve Bank of Atlanta’s latest GDPNow forecast.Most Read from BloombergCuts to Section 8 Housing Assistance Loom Amid HUD UncertaintyThe Trump Administration Takes Aim at Transportation ResearchShelters Await Billions in Federal Money for Homelessness Pro
BlackRock Adds Its IBIT Bitcoin ETF To Alternative Asset Model Portfolio
The world’s biggest asset manager added a 1% to 2% allocation to its target allocation portfolios.
China ETFs, Stocks Slump on Trump Plan to Double Tariffs
China-focused exchange-traded funds and stocks of Chinese companies listed on U.S. exchanges fell Friday, after U.S. President Donald Trump said he was planning to double the existing tariff on goods from China.
Is a bitcoin price winter coming?
The bitcoin price sell-off persists.
Fed’s Goolsbee Warns Against Overreliance on Productivity Gains
(Bloomberg) -- Federal Reserve Bank of Chicago President Austan Goolsbee lauded the recent increase in productivity growth, but warned that over-anticipating positive economic effects from it could put the central bank in a “tough position.”Most Read from BloombergCuts to Section 8 Housing Assistance Loom Amid HUD UncertaintyThe Trump Administration Takes Aim at Transportation ResearchShelters Await Billions in Federal Money for Homelessness ProvidersNYC Office Buildings See Resurgence as Invest
Bitcoin Dip-Buyers Step in Friday, but What Might Weekend Action Bring?
Punitive tariffs against Mexico, Canada and China could go into effect on Tuesday.
Coinbase’s stock slides nearly 30% as Bitcoin tanks
Other fintech firms that have a crypto business have also seen their stocks dip, including Robinhood.
Inflation is easing, but another alarm bell is ringing about the US economy
The Federal Reserve’s preferred inflation gauge cooled as expected in January; however, the good news came with another potential red flag for the US economic engine: Consumers pulled back their spending by the most in nearly four years.
Elastic Stock Surges on Strong Earnings, Outlook Amid AI Boom
Elastic shares jumped Friday after the data analytics software provider reported better-than-expected earnings on strong demand for products related to artificial intelligence.
German manufacturing woes continue to keep unemployment rate high
German unemployment stayed at the highest level since October 2020, as concerns about deindustrialisation and weaker demand continued to weigh on the economy.View on euronews