Monday, November 2, 2020

Daily Market Report 11/2/20 The ISM Manufacturing finished October at 59.3 (vs. September at 55.4).  Quite a Jump!  And great news for Manufacturing sector!  However, Construction Spending came in only Up .3% (wich forecasts calling for 1.0% increase).  Investment Dollars appear to be coming back into the Markets, after last week's selloff.  Stocks are Up this morning on the ISM report and Q3 Corporate Earnings.  Elections are tomorrow, and have Investors worried over a delayed winner.  This could lead to a drop in stocks in the coming days, if this occurs; however, this may help MBS and Mortgage Rates!  Currently, MBS is Up 16bps (topping both it's 25- and 50 DMA).  Lenders will provide better pricing for Mortgage Rates this morning!  Yields have fallen Down to 0.83%.

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