U.S. Budget Gap Tripled to Record $3.1 Trillion in Fiscal 2020


Here's the closing bell brief for Friday. October sixteenth. I'm Charlie Turner for the Wall Street Journal stocks closed out the week with a mixed session the Dow Jones Industrials Rose One hundred twelve points to close at Twenty, eight, thousand, six, hundred, six, the Nasdaq composite fell forty, two points the S&P five hundred rose a fraction of appoint the indexes were little changed for the week each gaining less than a percent investors are grappling with questions about the strength of the economic recovery, the spread of the corona virus and the status of negotiations in Washington over additional fiscal stimulus at the same time investors were. Cheered by data showing a one point, nine percent rise in retail sales in September, it's the fifth straight monthly gain and far better than what analysts were expecting the nation's budget deficit triple to a record three point one, trillion dollars in the latest fiscal year according to the Treasury Department contributing to the widening gap a surge of federal spending to combat the corona virus. In cushion the US economy coupled with a drop off federal revenue amid widespread shutdowns and layoffs and shares of FIS rose nearly four percent. After the company said, it could be ready to apply for emergency use authorization of its covid nineteen vaccine by late November

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