Pending sales of existing homes in the US continued to slide in January, signaling persistent weakness in the housing market. Meanwhile, the US trade deficit widened in December to $70.3 billion, pushing the full-year deficit to a record $901.5 billion. Bloomberg's Mike McKee reported the figures on "Bloomberg Open Interest."

This marks the latest sign of economic headwinds facing the US economy, with both housing and trade data pointing to slowing momentum. The housing market has been under pressure from high mortgage rates and limited inventory, while the trade deficit reflects strong consumer demand for imports despite global economic uncertainties. The December trade gap was slightly wider than economists had forecast.

The widening trade deficit could fuel concerns about the US economic outlook, particularly as it reflects a reliance on foreign goods. For the housing sector, declining pending sales suggest buyers remain cautious amid affordability challenges. These twin reports underscore the challenges facing the Federal Reserve as it weighs future monetary policy decisions.