Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.21%) is in first place following the release of the Treasury's January budget from the bottom of the hour.

The Treasury Budget for December showed a deficit of $94.6 billion compared to a deficit of $128.6 billion in the same period a year ago.

The December deficit resulted from outlays ($654.6 billion) exceeding receipts ($559.9 billion). The Treasury Budget data are not seasonally adjusted so the January deficit cannot be compared to the December deficit of $144.8 bln.

Overall, January's U.S. budget deficit narrowed sharply as revenue growth, led by a surge in customs duties from Trump-era tariffs, outpaced modest increases in spending, even as receipts and outlays hit record levels for the month. While lower interest costs provided a one-time boost, year-to-date debt interest remains at a record high, showing that improved near-term deficit trends do not resolve longer-term fiscal pressures.