— U.S. consumers pulled back on purchases in Jan. by 0.2%, a drop not seen since Feb. 2021; the latest weekly jobless claims rising more than expected to 242,000.
— The Federal Reserve’s preferred measure of U.S. inflation rose 0.3% in Jan. to 2.6% annualized, as expected; markets expect the Fed to cut interest rates two times in 2025.
— President Trump announced the U.S. will create a strategic crypto reserve, which will hold a mix of cryptocurrencies, not just bitcoin.
— China is allowing 13 companies with foreign investors to operate it its telecom market and plans to open up more sectors, as investment from abroad is down 14% in the past year.
— The European Union said an estimated 80% of companies will not have to comply with its sustainability reporting requirements to reduce costs and increase competitiveness.
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