Stock Market Update
13-Jul-26 14:30 ET
S&P 500 Slips as June Budget Deficit Widens on Tariff Refunds, Rising Spending
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[BRIEFING.COM] The S&P 500 (-0.76%) is in second place following the release of the Treasury's June budget from the bottom of the hour.
The Treasury Budget for June showed a deficit of $120.3 billion compared to a surplus of $27.0 billion in the same period a year ago.
The June deficit resulted from outlays ($616.1 billion) exceeding receipts ($495.8 billion). The Treasury Budget data are not seasonally adjusted so the June deficit cannot be compared to the May deficit of $292.6 bln.
In short, the U.S. federal budget deficit widened in June, a sharp reversal from the year-ago surplus, as tariff-related refunds outweighed record customs collections and pressured government receipts. The Treasury collected $23.6 billion in duties but issued $49.2 billion in refunds, while higher spending, including a 28% increase in net interest costs on public debt, pushed fiscal-year-to-date deficit levels to $1.37 trillion.
