http://MikesDailyMarketReport.com: Factory Orders dropped 0.8% in April. Starting tomorrow, we'll look at the Job Numbers for May, which begin with the ADP numbers, then Weekly Jobless Claims on Thursday and BLS' Unemployment Rate and Jobs data. Stocks are rebounding after yesterday's Negative Close. Investors are watching the 4 biggest Tech Companies stave off tougher regulations, as the US Gov't aims to go after them with Anti Trust suits. Some optimism developed, as reports out of China seem to indicate that they'd like to work out the differences by resuming talks. Fed Members Bullard and Powell touch on the possibility of the Fed cutting rates as soon as this year. Their 7/31 meeting has a 59% probability. MBS is currently down 11bps. We had a mid-day price improvement yesterday, but if you remove that price improvement yesterday, then our Mortgage Rates will remain Unchanged from the Morning's pricing. Yields remain at 2.12%.
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