S&P 500 Futures Steady as August Trade Deficit Widens
US futures were nearly flat as the August trade gap reached a 17-month high and imports set a record.
Key takeaways
- E-mini S&P 500 futures edged up fractionally in Thursday morning trading.
- The August US trade deficit widened to $105.6 billion, a 17-month high.
US stock futures were little changed Thursday morning, with E-mini S&P 500 contracts edging up fractionally. Investors were weighing the wider trade deficit against signs of improving economic optimism, according to the morning market update.
The US trade deficit reached $105.6 billion in August, its highest level in 17 months. Imports hit a record $420.8 billion. The report said strong imports point to firm consumer and business demand, but can also add price pressure through higher costs for foreign goods and energy.
An economic optimism index rose to 46.8, its highest reading since March. Traders were also watching Thursday’s initial jobless claims and Atlanta Fed GDPNow update, followed by Friday’s Michigan Consumer Sentiment reading.
This article was produced with the help of AI technology. Source: Yahoo Finance
