Thursday, February 01, 2018

Today's Headlines

Bloomberg:
  • Bitcoin Hits 2018 Low as Concerns Mount on Regulation, Viability. (video) After reaching a record high of $19,511 on Dec. 18, Bitcoin has lost more half its value as the digital token has been weighed down by expectations of more government oversight globally, fears of price manipulation, the susceptibility of exchanges to hacking and lingering concern that it’s all just an asset bubble.
Wall Street Journal:
CNBC:
  • Economy to grow at blockbuster 5.4% rate in first quarter, Atlanta Fed tracker shows. The economy is on track to put up blockbuster growth numbers in the first quarter, according to the latest forecast from the Atlanta Fed. GDP is expected to surge 5.4 percent to start 2018, the central bank branch estimated in its latest rolling look at how the economy is progressing. If the forecast holds, it would be the best quarter since the Great Recession ended in 2009. The previous highest was third quarter of 2014, which hit 5.2 percent. That forecast comes amid some sharply improving data released Thursday. Real consumer spending jumped from 3.1 percent to 4 percent amid a sharp savings drawdown, and private fixed-investment growth surged from 5.2 percent to 9.2 percent. That comes as jobless claims hover around generational lows and the unemployment rate is at 4.1 percent.

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