Summer light: US trade deficit falls to lowest level since 1999

There weren't many bright data points for investors this week, but the U.S. trade front offered one: the nation's trade deficit fell nine percent to $25.96 billion in May -- its lowest level since 1999, the U.S. Commerce Department announced Friday.

Economists surveyed by Bloomberg News had expected the trade deficit to total $28.8 billion in May. More good news: the April trade deficit was revised to a slightly lower level, to $28.8 billion from $29.2 billion. The trade deficit totaled $28.5 billion in March and $26.0 billion in February.