Thursday, October 10, 2019

Daily Market Report 10/10/19 Weekly Jobless Claims dropped from last week's 220k number to 210k, which is a good sign for Jobs.  Also, on the agenda is Consumer Inflation by the way of Consumer Price Index, which remained Unchanged from the previous month (MoM); and it's YoY remained at 1.7%.  When you remove the Food and Energy data, then you have the Core CPI.  It rose only 0.1% MoM, but it's YoY remained unchanged at 2.4%.  This bode well for investors because they believe it will make it easier for the Fed to continue cutting rates because inflation remains under control.  Stocks are Up again this morning, as optimistic sentiment continues with China's visit to the US today to start the Trade Negotiatoins.  There are several things by both sides whom are trying to diffuse the standoff and move in a positive direction.  There are a few Fed Members  whom will be speaking today, so Investors will look for clues to the next FOMC later this month.  MBS is Down 19bps, so Mortgage Rates have risen a bit.  They're testing it's double floor of support (50- and 25 DMA).  While Yields have climbed to 1.64% and pushing Up against it's 50 DMA.

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