Scoreboard: More than a feeling

Commentators have been keen to accentuate the positive on US GDP, while America’s strong corporate earnings also helped drive global stocks higher.

The most remarkable thing about last night wasn’t the US GDP result, although it was solid and it was one factor that saw equities push higher last night. Indeed at 3.2 per cent for the 4th quarter, the result was pretty much expected. In fact it is down from the 4.1 per cent that was reported in the 3rd quarter. What’s remarkable about this particular release is the way it’s being reported.

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