Stock Market Update
14-Jan-25 14:25 ET
December Treasury deficit shrinks YoY, but Fiscal 2025 deficit up 39.4%
Dow +220.00
at 42517.12,
Nasdaq +40.84
at 19128.94,
S&P +19.24
at 5859.08
[BRIEFING.COM] The S&P 500 (+0.33%) has held its higher lines, little changed in reaction to the December Treasury Budget which hit at the bottom of the hour.
The Treasury Budget for December showed a deficit of $86.7 billion compared to a deficit of $129.4 billion in the same period a year ago. The December deficit resulted from outlays ($541 billion) exceeding receipts ($454 billion). The Treasury Budget data are not seasonally adjusted so the December deficit cannot be compared to the November deficit of $366.7 billion.
The key takeaway from the report is that the deficit in early fiscal 2025 is 39.4% greater than the deficit for the same period in fiscal 2024.
