USA Trade Balance For January -67.40B Vs -63.40B Est; -64.20B Prior
Portfolio Pulse from Benzinga Newsdesk
The USA trade balance for January reported a deficit of $67.40 billion, which is wider than the estimated $63.40 billion and the previous month's $64.20 billion.
March 07, 2024 | 1:31 pm
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NEGATIVE IMPACT
The wider-than-expected trade deficit may lead to negative sentiment towards the US economy, potentially impacting SPY.
A wider trade deficit can be perceived negatively by investors as it may indicate weaker economic performance, leading to potential downward pressure on the SPY ETF, which tracks the performance of the S&P 500 and is a barometer for the overall US stock market.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70