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Economic Report: U.S. trade deficit narrows in April after hitting record in prior month

The numbers: The trade deficit narrowed 8.2% to $68.9 billion in April from a record revised $75 billion in the prior month, the Commerce Department said Tuesday.

Economists polled by The Wall Street Journal had forecast the deficit to narrow to $69 billion.

What happened: Exports expanded 1.1% to $205 billion in April, while imports fell 1.4% to $273.9 billion.

Big picture: The trade deficit is widening this year given stronger U.S. growth compared with trading partners. But other major economies are now starting to reopen.

Market reaction: Stocks
DJIA,
-0.36%

SPX,
-0.08%

were struggling for direction on Tuesday while the yield on the 10-year Treasury note
TMUBMUSD10Y,
1.528%

was down 3 basis points to 1.542%.

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