Tesla and Facebook lead US tech falls. European markets open lower. UK reports new retail sales figures and US unveils fourth quarter growth data

Here’s an interesting chart on market bubbles:

A brief history of recent asset price “bubbles”… pic.twitter.com/3vPfZEFIU4

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The eurozone is seeing steady economic growth, thanks to a revival in world trade, according to S&P Global Ratings. In a new report, the agency says:

Global momentum has lifted the eurozone’s economic prospects, and it now appears to have reached cruising altitude. The economic and monetary union closed 2017 on a high note, with GDP growth at 2.5%, its fastest pace in a decade.

…S&P Global Ratings’ economists say the chief reason for this is the revival of world trade, which has put the eurozone’s industries back in motion. Capacity utilization was just short of its 2007 high, triggering stronger investment and boosting industry prospects for this year.

Strong fundamentals in the eurozone suggest that economic expansion will continue at a brisk pace, and we have raised our GDP growth forecasts for the region to 2.3% this year and 1.9% in 2019.

We’ve also raised our euro-dollar exchange rate forecast to $1.27 in 2018 and $1.3 in 2019, since we expect the dollar’s weakness will persist.

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Read More Markets nervous after tech shakeout and ahead of US GDP – business live

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