The trade deficit widened more than anticipated, increasing from an unrevised $38.3 billion in November to $40.6 billion in December, versus the estimate of economists surveyed, which called for the deficit to widen to $40.5 billion.
The preliminary University of Michigan’s Consumer Sentiment Index improved slightly more than forecast, increasing from 74.2 in January to 75.1—the highest level since June 2010—for February, compared to the increase to 75.0 that economists had expected.
The Dow Jones Industrial Average gained 44 points (0.4%) to 12,273, the S&P 500 Index gained 7 points (0.6%) to 1,329, and the Nasdaq Composite added 19 points (0.7%) to 2,809. Crude oil fell $1.27 to $85.46 per barrel,and the Bloomberg gold spot price fell $7.35 to $1,356.45 per ounce. For the week, the DJIA rose 1.5%, the S&P 500 Index gained 1.4%, and the Nasdaq Composite advanced 1.5%.
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