Ed Kalecki

in new york charlie pellett bloomberg radio u.s consumer spending barely rose in january after economic growth was weaker than previously reported at the end of last year suggesting the economy lost some momentum before the war with iran inflation adjusted consumer spending increased 0.1 from december according to data out friday and a gauge of underlying inflation favored by the federal reserve rose a firm 0.4 the government also halved its initial estimate of growth in the fourth quarter

when a record-long government shutdown, a slowdown in consumption, and a decline in exports weighed on the economy.

After two rounds of the Players' Championship, Ludwig Aaberg, 9-under for the day, 12-under for the tournament, heads into Saturday's third round with a two-shot lead.

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defeated Canada 5-3, and the Dominican Republic shut out Korea 10-0.

The Friday numbers on Wall Street, the Dow lost 119, NASDAQ fell 206, the S&P dropped 40, the 10-year Treasury yield at 4.28%, the two-year at 3.72%.

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I'm Ed Kalecki.

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Oil shipping has largely paused in the Strait of Hormuz that links the oil-rich Persian Gulf to the open seas after the U.S.

and Israel bombed Iran, with Iranian media saying the waterway is practically closed.

Ships reported hearing a radio broadcast purporting to come from the Iranian Navy announcing that transit through the waterway was banned.

Several tankers that had been heading toward Hormuz have turned around.

A large number had already paused to wait near the entrance to the waterway after the bombing started.

The disruption is impacting everything from crude oil tankers to container ships that carry furniture.

Ed Kalecki, Bloomberg Radio.

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