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.
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