Thursday, June 6, 2019

Daily Market Report 6/6/19

http://MikesDailyMarketReport.com:  Initial Jobless Claims rose this week from 215k from previous week to 218k.  These are still low numbers, which is why Investors shrugged off the ADP number yesterday.  They're anticipating approximately 190k new jobs for tomorrow's BLS' report.  Q1 Productivity was revised a bit lower, from 3.6% to 3.4%.  Unit Labor Costs (Q1) was revised further declines from -0.9% to -1.6%.  This can help keep inflation low.  Stocks have shifted into Negative Territory this morning, as the Market Sentiment became more risk aversed due to the Dovish Speak with Central Speakers and US' Trade Talks with Mexico and China.  The ECB held their rate at -0.4% and pledged to maintain that rate for 2019.  Earlier this week, US Fed Members also had a dovish tone to their speeches, which many are led to believe a rate hike will come.  President Trump is ready to add Tariffs to Mexico on Monday, as he stated the Talks haven't progressed enough to warrant a halt to the Tariffs.  Also, it is believed that the US will carry out the Tariffs on China's remaining $300 Billion Goods after G20 Meeting at the end of June (the 29th).  MBS is Up 5bps, but Mortgage Rates remain Unchanged from yesterday's pricing.  Yields are now at 2.10%.

Please subscribe to my Blog and YouTube Channel at MikesDailyMarketRpt


No comments:

Post a Comment