Stocks edge higher on encouraging economic signs
The market rose on optimism a tax cut package would pass the Senate and spur growth. The S P 500 reached 1240.40, Dow rose to 11410.32, Nasdaq 2637.54 as GE jumped 3.4 percent on a 17 percent dividend increase. Netflix and others joined the S&P 500.
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Trade deficits narrows to nine month low in October
The US trade deficit fell to 38.7 billion in October from 44.6 billion in September as exports rose 3.2 percent to 158.7 billion driven by machinery, farm products, and autos. Imports dipped 0.5 percent to 197.4 billion due to lower oil demand and fewer foreign cars. The dollar’s decline boosted exports while China’s deficit shrank slightly but remains the largest with any country, pressuring policy.
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