Here are five things you need to know this morning
U.S. GDP grows at 2.3% pace: The U.S. economy ended last year with slowing but solid growth, new gross domestic product (GDP) numbers this morning suggest. Inflation-adjusted GDP increased at an annualized rate of 2.3 per cent in the fourth quarter. That’s down from a 3.1 per cent pace in the previous quarter and below the 2.6 per cent that analysts were forecasting. Consumer spending grew at a 4.2 per cent pace.
60 passengers and 4 crew of AA plane feared dead in D.C.: We’ll be watching for reaction and details to a tragic story unfolding in D.C. today, after an American Airlines jet collided midair with a U.S. Army helicopter near Reagan Airport last night, plunging it into the Potomac River. Officials this morning say they fear the incident left no survivors on the jet. The airport has suspended all takeoffs and landings until at least Friday morning.
Celestica shares up premarket on strong earnings: Shares in TSX-listed Celestica are poised for big gains at the open after the company posted higher earnings after the bell yesterday and boosted its outlook for 2025. The company posted record adjusted earnings per share of $1.11, up from 77 cents a year ago. Revenue rose 19 per cent to $2.55 billion. For the current year, the company anticipates its revenue could be as high as $10.7 billion. That’s up from $10.4 billion previously forecast.
CN set to post results a day after CP did, downplaying tariff threat: We’ll be watching the latest numbers from CN Rail after the bell today as the carrier is poised to post financial results. The numbers will come a day after rival Canadian Pacific Kansas City did the same. CP says it expects shipments across its network to grow this year, an encouraging sign despite the threat of a trade war.
Meta shares poised for higher open after earnings: Shares in Meta Platforms Inc. will be on the radar today after the company posted earnings after the bell yesterday. CEO and founder Mark Zuckerberg said 2025 will be “a really big year” for the company and predicted that Meta’s artificial intelligence (AI) assistant is poised to dominate a market that Zuckerberg says will reach 1 billion people by the end of the year. Shares were up about three per cent premarket.
