Economy Grows 2.1 Percent in Q4 2016 amid Stronger Spending
U S GDP rose 2.1 percent annual rate in October December, up from 1.9 percent. Stronger consumer spending offset trade drag, with economists projecting about 2 percent growth in early 2017 and gains ahead as incomes rise and jobs grow.
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Judge Delays Ruling on Trump University Settlement Approval
U S District Judge Gonzalo Curiel questioned a proposed 25 million Trump University settlement with about 3,730 claimants. He warned that an opt-out dispute raised by Sherri Simpson could derail the deal and postponed final approval to a later date.
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Banks Lead Wall Street Gain As Markets Edge Higher
U S stocks rose modestly with banks and other financials leading. Bond yields climbed lifting bank profits expectations while energy names gained on higher crude prices. ConocoPhillips jumped 8.8 percent after agreeing to sell most of its Canadian assets as index levels reach new highs.
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