Tuesday, February 5, 2019

Daily Market Report 2/5/19

http://MikesDailyMarketReport.com: We have the Services Industries on today's Economic Calendar with 2 indices.  We'll start off with the Markit Services PMI, which remained at 54.2 in January; whereas, the ISM Non-Manufacturing Index dropped from 58% to 56.7%.  The Stock Market is Up on light trading, as many of the Markets in Asia are closed due to the Chinese Lunar New Year celebration.  Investors are looking at Q4 Earnings still, and tonite will be watching the SOTU for clues on any progress with Trade Talks with China and Negotiations with Congress over the southern Border Wall.  MBS is currently up 11bps, which should bode well with better pricing this morning (compared to yesterday's).  Yields have slid down to 2.70% and below it's 25 DMA. 

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