http://MikesDailyMarketReport.com: A lot to go over today on the Economic Calendar, as we have a few reports added, due to the Gov't Shutdown. The biggie today, is the Nonfarm Payroll for the month of January, which jumped to 304k, but the previous 2 months combined were revised lower by 70k; which brings the 3 month avg around 241k -still very good! The Unemployment Rate increased from 3.9% to 4% due to the Gov't Shutdown. Average Hourly Earnings rose modestly to 0.1% and dropped from 3.3% to 3.2% YoY; however, the Weekly Earnings increased from 3.2% to 3.5% -pretty significant jump, which Fed will watch for Inflation. Manufacturing had improving numbers, as we have 2 indices to report. The Markit Manufacturing PMI rose from 53.8 to 54.9 in Jan. The ISM Manufacturing Index rose from 54.1% to 56.6% in Jan. Construction Spending rose 0.8% in November. Consumer Sentiment improved from it's initial January reading of 90.7 to 91.2; however, it dropped from December's 98.3 reading. Wholesale Inventories rose 0.3% in November. Stocks are Up on the Job data. MBS is currently down 25bps, which as a result, Mortgage Rates worsened. Yields climbed up to 2.69%.
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