U.S. Trade Deficit Narrows; EU Leaders Make Progress Friday, December 9, 1:03 PM ET
The U.S. trade deficit grew a bit slimmer in October, according to Commerce Department data released today.
The trade deficit narrowed by 1.6%, to $43.5 billion.
However, September's trade deficit was revised higher, from an initial reading of $43.1 billion to $44.2 billion.
Meantime, progress among European Union leaders at working together on a plan to solve the region's debt and financial crisis is driving U.S. financial stocks higher.
Bank of America (NYSE:BAC), Citigroup (NYSE:C), JPMorgan (NYSE:JPM) and Wells Fargo (NYSE:WFC), among others, are all trading higher. The S&P Financial Select SECTOR SPDR (AMEX:XLF) is trading higher today as well.
The Euro Trust (AMEX:FXE) is trading up .2% following the additional support its nations put behind it.
Gold is trading higher Friday, leading the SPDR Gold Shares (AMEX:GLD) to trade up over .1%, while the iShares Gold Trust (AMEX:IAU) trades up about .1% as well.
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