Wednesday, April 3, 2019

Daily Market Report 4/3/19

http://MikesDailyMarketReport.com: Today marks the first of 3 Job data this week, which we start with the ADP Employment Report.  It reported that there were 129k new jobs in the private sector.  Tomorrow will be the Weekly Jobless Claims, then Friday, will be the BLS' Jobs Report.  The Services Industry experienced a decline in March, as both the Markit Services PMI (came down from 56.0 to 55.3) and ISM Non-Manufacturing Index (down from 59.7% to 56.1%) dropped from February's data.  However, Stocks are Up this morning, taking the Global Lead, as reports surfaced that the US and China Trade Talks are about 90% completed.  The last 10% become a bit trickier, as each side will need to compromise.  Also, China had some positive economic data reported today, helping the Positive outlook today.  MBS are down 13bps, which will lead Lenders to worsen their Mortgage Rates a bit this morning.  Yields have climbed up to 2.51% now.

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