Economic data for the short week included fourth quarter U.S. GDP growth coming in slower than expectations, stronger personal income and spending as well as industrial production, while several housing metrics were mixed, but remained generally in a weak state overall relative to history.

Economic data for the week included a strong January jobs report, albeit with methodological nuances, flattish retail sales, and weaker weather-impacted existing home sales.

Economic data for the week included ISM manufacturing moving back into expansion, ISM services staying in expansion, some improvement in consumer sentiment, but weaker job openings and claims data.

Economic news for the week included the Fed keeping policy short-term interest rates steady.

At the January meeting, the U.S. Federal Reserve Open Market Committee voted to keep the Fed funds rate unchanged at the range of 3.50-3.75%.

On a holiday-shortened week, economic data included an upward revision for 3rd quarter U.S. GDP, gains in personal income and spending, expansionary showings for S&P manufacturing and services, and some improvement in consumer sentiment.