Thursday, February 28, 2019

Wall Street Update

Boring is what I'd call it. While this morning's news points to a slightly lower opening on most markets (Asian markets were down after Trump walked out on talks with Korea), it's another wait and see. The QQQ has been quiet the last few days, and there is no indication of a major move. 

From Seeking Alpha
Wall Street is pointing to modest declines, with U.S. stock index futures down 0.3%, amid shaky trade talks, the collapse of the North Korea summit and escalating tensions between India and Pakistan. Traders are now eyeing this morning's release of Q4 GDP, which is expected to show a growth rate of around 2.3%, marking a figure that might leave 2018 growth just shy of the Trump administration's 3% annual target. "The key issue is the reported plunge in December retail sales," said Ian Shepherdson of Pantheon Macroeconomics. "Retail sales account for about 30% of GDP, so a big miss even in just one month of the quarter is enough to make a material difference."

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