Tuesday, August 20, 2019

Daily Market Report 8/20/19

http://MikesDailyMarketReport.com: There's no economic data to report today (again), which was mentioned yesterday that this will be relatively light in terms of data being reported.  The Markets are taking their cue from the remaining Earnings Reports, as big bellweather companies, like HomeDepot, are reporting today.  Stocks are Mixed this morning, as a result.  Huawei was granted another 90 day reprieve from the US Commerce Dept, so US businesses can still do business with them without requesting permission to do so.  President Trump continues his criticism of the Fed with their rate policy and suggested they should cut about 1% more.  There are a few Fed speakers out today speaking, which can also pique the Investors ears.  Jackson Hole is just around the corner, as a few Central Bankers will gather there this Thursday and Friday.  MBS is Up 16bps this morning, as Mortgage Rates look to improve after yesterday's drop (closed down 22bps).  Yields are sliding a bit and are down to 1.56%, trying to stay above the 2nd level of Support.

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