Stock Market Update
13-Nov-24 14:35 ET
Stocks move slightly lower; Key takeaway from Treasury budget
Dow +88.53
at 43999.51,
Nasdaq +6.75
at 19288.15,
S&P +9.90
at 5993.90
[BRIEFING.COM] The major indices moved slightly lower over the last half hour with no specific catalyst.
The Treasury Budget for October showed a deficit of $257.4 billion compared to a deficit of $66.6 billion in the same period a year ago. The October deficit resulted from outlays ($584.2 billion) exceeding receipts ($326.8 billion). The Treasury Budget data is not seasonally adjusted so the October deficit cannot be compared to the September surplus.
The key takeaway from the report is that the net interest outlay is running close to $1 trillion on an annualized basis.
