Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.10%) is in second place on Friday afternoon, little changed following the release of the Treasury's March budget from the bottom of the hour.

The Treasury Budget for March showed a deficit of $164.1 billion compared to a deficit of $160.5 billion in the same period a year ago.

The March deficit resulted from outlays ($549.0 billion) exceeding receipts ($384.9 billion). The Treasury Budget data are not seasonally adjusted so the March deficit cannot be compared to the February deficit of $307.5 bln.

Overall, the March U.S. budget deficit widened modestly from a year earlier to $164 bln, as higher receipts were more than offset by rising outlays, with tax policy changes driving a sharp increase in refunds and boosting spending pressures alongside higher farm aid payments. Receipts rose 5% while outlays increased 4%, though calendar-adjusted figures would have shown a larger $250 bln deficit, up 4% year over year, and customs duty collections softened to $22.2 bln following the Supreme Court's annulment of Trump-era global tariffs.