The BizTimes Stock Index dropped 1.86 points to close at 158.78 Tuesday, but the stock market rallied today, ignoring the U.S. Commerce Department's announcement that the nation's trade deficit widened by 4.4 percent in October to another record, $68.9 billion. The trade gap widened despite the largest increase in U.S. exports since March. The widening caught economists by surprise, as analysts surveyed by MarketWatch had expected the deficit to narrow to $62.9 billion. The value of the U.S. dollar fell after the trade data was released today. The largest local advancers this morning were Badger Meter Inc. (up $1.02 to $43.41) and Rockwell Automation Inc. (up 70 cents to $60.63). The largest local decliners this morning were Johnson Controls Inc. (down 53 cents to $73.38) and Briggs & Stratton Corp. (down 40 cents to $39.50). The BizTimes Stock Index was created by Small Business Times and is monitored by North Shore Bank. The index, which measures the stock values of publicly held companies based in southeastern Wisconsin, is updated daily and can be viewed at www.biztimes.com.
Stock market ignores record trade deficit
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