The trade deficit widened from an unrevised $36.4 billion in November to $40.2 billion in December, versus the estimate calling for the deficit to narrow to $35.8 billion. Strength in oil prices led to imports outpacing exports. Imports increased 4.8%, and exports rose 3.3%. More from Bloomberg...
The Dow Jones Industrial Average lost 20 points (0.2%) to close at 10,038, the S&P 500 Index fell 2 points (0.2%) to 1,068 and the Nasdaq Composite declined 3 points (0.1%) to 2,148. Crude oil rose $0.75 to $74.50 per barrel, and the Bloomberg gold spot price lost $5.80 to $1,072.30 per ounce.
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