Stock Market Update
11-Dec-24 14:30 ET
November Treasury Budget reflects typical deficit amid accelerated December payments
Dow -19.00
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[BRIEFING.COM] The S&P 500 (+0.86%) is holding just a bit off session highs in current trading, not really reacting to the November Treasury Budget which hit at the bottom of the hour.
The Treasury Budget for November showed a deficit of $366.8 billion compared to a deficit of $314.0 billion in the same period a year ago. The November deficit resulted from outlays ($668.5 billion) exceeding receipts ($301.8 billion). The Treasury Budget data are not seasonally adjusted so the November deficit cannot be compared to the October deficit of $257.5 billion.
The key takeaway from the report is its worsening condition, which was driven in part by a large outlay for net interest that exceeded the outlay for national defense.
