Stocks retreat after failed Trump-Kim summit:
U.S. stocks fell Thursday morning but are off pre-market lows after a reading of fourth-quarter GDP came in better than expected. The reading comes as stocks had been under pressure after denuclearization talks between President Donald Trump and North Korean leader Kim Jong Un broke down.
Still, the president expressed hope that a pact could be achieved and described North Korea as having “tremendous potential.” What are strategists saying? “The GDP numbers were better than expected,” Marvin Loh, global macro strategist at State Street told MarketWatch, adding that the numbers were boosted by better-than-expected business investment.
The Chicago purchasing managers index rose 8 points to a reading of 64.7 in February, the largest increase since last February. Shares of HP Inc. HPQ, -16.18% fell 16.2% Thursday, after the company reported falling market share and revenue for its printer-supply business was under pressure, in Wednesday-evening earnings report.
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