Stock Market Update
16-Oct-25 14:30 ET
S&P 500 slips as Treasury reports $198 bln September surplus, FY25 deficit shrinks to $1.78 trln
Dow -355.62
at 45897.48,
Nasdaq -191.36
at 22478.74,
S&P -60.84
at 6610.21
[BRIEFING.COM] The S&P 500 (-0.91%) remains the top lagging major average on Thursday afternoon; briefly, the majors have all relatively held their lower lines following the release of the Treasury's September budget from the bottom of the hour.
The Treasury Budget for September showed a surplus of $198 billion compared to a surplus of $80.3 billion in the same period a year ago.
The September surplus resulted from receipts ($543.7 billion) exceeding outlays ($345.7 billion). The Treasury Budget data are not seasonally adjusted so the September surplus cannot be compared to the August deficit of $344.8 bln.
The key takeaway from the report is that the FY25 deficit was less than the FY24 deficit. That is the good news. The bad news is that the FY25 deficit was still $1.775 trillion, even with the collection of $195 billion in customs duties (for tariffs).
