Import Prices & Trade Deficit Trickle Out
Today’s economic news is not going to be enough so far to drive stocks and bonds meaningfully higher or lower ahead of a three-day weekend. The November report on Trade Balance (the trade deficit) grew from $43.3 billion to a…
The November report on Trade Balance (the trade deficit) grew from $43.3 billion to a sum of $47.8 billion for the month. Bloomberg had a reading of $45 billion for its consensus and the high-end of the range was -$47.6 billion. Our deficit in trade has been wide for so long that this is nothing more than a headline at this point as far as the stock and bond markets are concerned.
In the land of inflation from input costs, the December prices in import prices was down by -0.1% for the month. Dow Jones had a consensus of -0.1% and Bloomberg was at +0.1% on last look. The range was -1.1% to +0.9%, so this is still in the middle.
Again, there is just no reason to expect these numbers to change much in the markets today.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
