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Wall Street Grand ยป Contributors
The U.S. economy grew at its fastest pace in 1-1/2 years in the fourth quarter, but a strong rebuilding of stocks by businesses and weak spending on capital goods hinted at slower growth in early 2012. U.S. stock index futures retreated Friday, erasing their early gains after the report. U.S. GDP expanded at a 2.8 percent annual rate in the fourth quarter, but the figure was still slightly below expectations for a 3.0 percent gain. An to continue to rumorville, European stocks were earlier buoyed by comments made by European economic affairs chief Ollie Rehn who said a deal on reducing Greece's private sector debt is imminent and should be completed by the end of January at the latest.
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