Tuesday, November 5, 2019

Daily Market Report 11/5/19

http://MikesDailyMarketReport.com: Today, we have 2 reports on the Services Industry.  The Markit Services PMI showed a decline from 51.0 to 50.6 in October; whereas, the ISM Non Manufacturing Index rose from 52.6% to 54.7%.  The ISM is considered the "Gold Standard" for Economists and Investors.  Stocks are moving slowly in Mixed Territory after reaching New Highs yesterday.  The driver today is China's request for the US to roll back on their September Tariffs, along with the upcoming December Tariffs.  Reports have the US considering the proposition and have Investors optimistic.  The Q3 Earnings Reports and Fed Speakers continue this week.  MBS is way down this morning, down 30bps and sitting just atop it's 100 DMA, after breaking thru it's 25- and 50 DMA.  Meanwhile, Yields skyrocked above it's Fibonacci and 100 DMA and stitting at 1.86%.  This was it's previous high last week.  Let's see if it holds!

Please subscribe to my Blog and YouTube Channel at MikesDailyMarketRpt

No comments:

Post a Comment