THURSDAY – Stocks were little changed at Thursday’s open as stronger-than-expected economic data were offset by talks between President Donald Trump and North Korean leader Kim Jong Un falling through.
The Dow Jones Industrial Average fell just 11 points while the S&P 500 dipped around 0.1 percent. The Nasdaq Composite fell 0.2 percent.
The U.S. economy grew at an annualized rate of 2.6 percent in the fourth quarter 2018, according to the Bureau of Economic Analysis (BEA). Economists polled by Dow Jones expected the economy to grow at a pace of 2.2 percent.
Investors were closely watching the summit in Vietnam as it could potentially impact trade negotiations between China and the U.S.
On Wednesday, U.S. Trade Representative Robert Lighthizer testified in front of House members that China needed to do more than just buy more U.S. goods for the two countries to strike a permanent trade deal. But Lighthizer said after the testimony, according to The Wall Street Journal, that formal steps would be taken to abandon plans of raising tariffs on Chinese goods.
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