China Shipping trailer, Memphis, Tennessee

Image by Thomas R Machnitzki

The U.S. trade deficit is shrinking thanks to President Trump’s trade policies. The number is the smallest trade deficit since POTUS was elected in 2016.

The USD Goods Trade Balance (Nov) printed at -$63.19B vs -$68.75B consensus estimate.

In other economic news, Wholesale Inventories (Nov) PREL printed at 0.0 vs -0.3 estimate.

The Chicago Purchasing Managers’ Index (Dec) printed at 48.9 vs 48.0 estimate.

Pending Home Sales (YoY) (Nov) beat estimates at 7.4% vs 5.8% estimate.

Pending Home Sales (MoM) (Nov) printed at 1.2% vs 1.1% estimate.

Dallas Fed Manufacturing Index (Dec) missed, coming in at -3.2 vs estimate of 1.5.