The trade deficit narrowed from a smaller-than-initially reported $39.9 billion in December to $37.3 billion in January, versus the estimate calling for the deficit to widen to $41.0 billion. Exports decreased 0.3% to $142.7 billion while imports fell 1.7% to $180.0 billion.
The Dow Jones Industrial Average rose 45 points (0.4%) to close at 10,612, the S&P 500 Index gained 5 points (0.4%) to close at 1,150, and the Nasdaq Composite increased 10 points (0.4%) to 2,368. Crude oil was $0.12 higher at $82.21 per barrel, and the Bloomberg gold spot price gained $0.39 to $1,108.80 per ounce.
Magnificent Seven Update
