Stock Market Update

[BRIEFING.COM] The market moved mostly sideways at the index level in recent trading.

The Treasury Budget for January showed a deficit of $128.6 billion compared to a deficit of $21.9 billion in the same period a year ago. The January deficit resulted from outlays ($641.9 billion) exceeding receipts ($513.3 billion). The Treasury Budget data are not seasonally adjusted so the January deficit cannot be compared to the December deficit of $86.7 billion.

The key takeaway from the report is that the deficit in early fiscal 2025 is 57.9% greater than the deficit for the same period in fiscal 2024.