http://MikesDailyMarketReport.com: The Non Farm Payrolls rose by 1.76 million in July, as it exceeded it's forecast of 1.68 million. Also, the Unemployment dropped from 11.1% in June to 10.2% in July (almost a full percent). The Average Hourly Earnings, also, exceeded it's forecast of -0.5% in July by reporting +0.2%. The Wholesale Inventories dropped by 1.4% in June. Stocks are Down this morning, as Job creations have slowed, which makes a Stimulus Package even more dire, in the minds of the Investors. President Trump issued a 45 day window for Tech Companies to stop doing business with Chinese Companies, TikTok and Tencent. This puts a timeframe on negotiations between Microsoft and TikTok. MBS are Up 2bs, so there's currently no change in Mortgage Rates from yesterday. Yields have pushed back Up to just over 0.56%.
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 mikebjork@icloud.com.
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