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Mid-Day Recap: Stocks Recover Losses Ahead of FOMC
Three hours into Wednesday’s session, the NASDAQ is leading the way with a 1.65% advance to 2,0002, followed by a 1.30% climb in the Dow to 9,361, and a 1.23% hike in the S&P 500 to 1,006. All three indexes are rebounding from two days of losses.
June Trade Deficit Expands Less than Forecasts
A jump in oil prices allowed imports to advance faster than exports in June, causing the US trade deficit to expand compared to May, yet overall the debt was smaller than analysts had expected. The total deficit in goods and services was $27.0 billion in June, up from a decade low of$26.0 billion in May, the Commerce Department reported. The median forecast beforehand was $28.5 billion.rnrnrn
Trade Balance, Budget, Auction, FOMC Meeting
After two pretty light days that have caused markets to tumble, Wednesday offers a busy schedule with a mix of fresh data and government policy. The S&P 500, which fell 1.3% yesterday ― its biggest slide in a month ― is looking moderately positive this morning along with the Dow and Nasdaq, but that could change quickly if the Trade Balance at 8:30 comes in worse than anticipated.
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