NYSE Updates

U.S. trade deficit drops 4% to $65.5 billion on waning imports

The nation’s trade deficit fell 4% in June to $65.5 billion due to declining imports, perhaps a sign of weakening demand in the U.S. economy.

The trade gap dropped $2.8 billion from $68.3 billion in May.

Big picture:  Big changes in the trade deficit often reflect disruptions in the U.S. or global economies.

Falling imports, for example, could be a warning sign that consumers and businesses are pulling back.

Yet smaller deficits are a positive for gross domestic product, the official scorecard of the U.S. economy.

Market reaction: The Dow Jones Industrial Average
and S&P 500
were set to decline in Tuesday trades.

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