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On the SPOT™ blog (06/07/2023) [P..]

This morning (PST), Dow is near the flat line and S&P, Nasdaq are in red. This morning's economic data is perhaps making investors take a pause and evaluate the data. Commerce department released data that showed that US trade deficit increased in April. US consumers increased their spending on imported goods and energy exports seemed to have decreased. It remains to be seen what impact this will have on the Q2 GDP numbers. Exports from China also seemed to have fallen in May. So, in general, this data combined with World Banks's recent comments about global economy being precarious might be the reason for investors to play the "waiting game" at least the inflation data and FOMC conclusion due next week.

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