Headlines Discussed at LNWM’s Monday Morning Briefing:
- U.S. GDP increased 2.6% in fourth-quarter 2013, driven by consumer spending, exports and non-residential investments. For all of 2013, GDP growth was 1.9%, down from 2.8% in 2012.
- U.S. corporate profits set a new record high in 2013: $1.68 trillion (after-tax).
- The Chinese government will roll out new measures to spur economic growth, said China’s Premier.
- IRS announced that bitcoins are to be taxed as property, rather than as a currency.
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