As if yesterday’s Cohen and Powell testimony weren’t scintillating enough, the talks with North Korea broke down and a bevy of important economic data is due out this morning.  Will we finally see stocks take notice, or will VIX continue to keep the fireworks to a minimum?Advanced 4th quarter GDP is due out at 8:30 this morning.  Following disappointing retail sales and core capital goods data, few are expecting an improvement over Q3’s 3.4%. Consensus seems to be around 2.3%, though I’ve seen credible estimates at 2.1-2.2%.

A miss could compound things for equities, which are already struggling after news that Trump packed his bags and walked out on Kim Jong Un.

continued for members…Though futures are off 7 points, note that this morning’s lows tagged the updated SMA10.

The loss might be bigger but for the fact that VIX has remained remarkably steady… …and CL/RB are bouncing.Currencies are where most of the drama is, with the DXY breaking below the backtest as we’ve discussed. USDJPY continues to play a supporting role.Also, notably, 2s10s rose to 18 bps this morning on a slight rise in TNX. And, gold is getting a bounce.More later…

UPDATE:  2:35 PM

Another one of those days: more propping up, more coiling, more stretching out.  I really loathe days like this…