USA Goods Trade Balance For January -90.20B Vs -88.40B Est.; -88.46B Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Goods Trade Balance for January reported a deficit of $90.20 billion, compared to the estimated $88.40 billion and the previous $88.46 billion.
February 28, 2024 | 1:30 pm
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NEGATIVE IMPACT
The worsening trade deficit may lead to negative sentiment towards the US economy, potentially impacting SPY.
A larger than expected trade deficit can be perceived negatively by investors as it may indicate weaker economic performance. This could lead to a decrease in investor confidence in the US economy and subsequently impact the performance of SPY, which tracks the S&P 500 and is a broad indicator of US stock market performance.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70