Dan Schwartzman

Despite all the tariffs, the U.S.

trade deficit widened in December to $70.3 billion, resulting in a full-year deficit of just over $900 billion, one of the largest in data back to 1960.

The trade data was notably volatile in 2025 due to persistent tariff announcements from President Trump.

Amazon has officially dethroned Walmart as the biggest global company by revenue.

The e-commerce giant reported 2,025 sales of $717 billion, while Walmart reported sales of $713.2 billion.

Amazon's growth rests largely on the importance of its cloud computing business, Amazon Web Services, which contributed to its revenue dominance.

Amazon's revenue has increased at almost 10 times the pace of Walmart's, fueled by a shift in consumer spending from stores to websites, as well as the cloud computing business.

According to Labor Department data, applications for unemployment benefits fell by 23,000 to 206,000 in the week ended February 14th, adding to evidence of stabilization in the labor market.

The number was lower than all but one estimate in a Bloomberg survey.

We check markets all day long here at Bloomberg.

The Dow is down around three-tenths of a percent.

S&P 500 is down close to two-tenths of a percent, while the Nasdaq has lost around a tenth of one percent.

The 10-year yield is at 4.08, the two-year at 3.46.

Norway continues to lead the medal count at the Milan Cortina Olympics with 34 total, while the U.S.

is in third with 24.

Norway also with 13 golds compared to seven for the U.S.

Coming up later this afternoon, the U.S.

and Canada will battle for gold in women's hockey.

That's news when you want it with Bloomberg News Now.

I'm Dan Schwartzman and this is Bloomberg.