Wall Street opens moderately lower despite strong GDP data

Major equity indexes in the U.S. started the day with small losses on Thursday despite the upbeat GDP report, which showed that the real GDP in the U.S. expanded by 2.6% on a yearly basis in the fourth quarter to surpass the analysts' forecast of 2.3%. As of writing, the Dow Jones Industrial Average was down 0.07% on the day while the S&P 500 and the Nasdaq Composite were down 0.17% and 0.27%, respectively.

Reports of talks between U.S. President Trump and North Korean Leader Kim Jong Un coming to an end unexpectedly seems to be weighing on the market sentiment. Among the 11 S&P 500 major sectors, consumer discretionary, energy, and materials all lose around 0.5% in the early trade. On the other hand, communication services is up 0.2% to lead the gains.