Tuesday, August 11, 2020

Daily Market Report 8/11/20

 http://MikesDailyMarketReport.com: The NFIB Small Business Index dropped from 100.6 in June to 98.8 in July, as many states reconstituted some form of lockdowns.  The Wholesale Inflation data rose in July, as the Producer Price Index rose by 0.6% in July; and the Core PPI (excluding Food and Energy) rose by 0.5%.  Stocks are Mixed this morning, as the NASDAQ again is the lone index in the Red.  Congress reconvenes their negotiations with another Stimulus Package.  Russia becomes the first to release COVID-19 vaccines.  Mortgage Rates worsened a little bit today, as the MBS is currently Down 17bps.  Meanwhile, Yields have skyrocketed to just over 0.65%.  In the process, they've climbed past their 25 DMA, another ceiling and right near the 50 DMA.  We'll want to watch, as this may be an indicator for MBS to pull back it's recent gains.

 Please subscribe to my YouTube Channel at MikesDailyMarketRpt

Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then either direct message me, or visit http://michaelb.swmcretail.com.

No comments:

Post a Comment