Thursday, July 30, 2020

Daily Market Report 7/30/20 Initial Jobless Claims had another little spike again this week, which it increased from last week's number of 1.42 million people applying for unemployment benefits for first time to 1.43 million in this week's report.  Also, we get an initial look at the GDP for Q2, which went into the record books (not in a good way) at -32.9%; and Q1's GDP was -5.0%.  Stocks are mostly in the Red, but NASDAQ is the lone index in Positive Territory.  Some of the big Tech Stocks will be releasing their Earnings Reports after the bell tonight, which may influence tomorrow's trading.  The rising cases in covid-19 and the bickering between political parties is weighing a bit on the Markets.  Meanwhile, we've been seeing some improvement with Mortgage Rates over the past few days, as MBS is currently Up 13bps this morning.  Yields broke below their floor of support yesterday and are now testing their new floor, and reside just under 0.55%.

As I mentioned in the video, these views do not represent anybody else, but my own.  I do work as a Loan Officer, so if I may be of assistance with your refinance or purchase, then please feel free to reach out to me at

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