Friday, November 6, 2020

Daily Market Report 11/6/20 Today is the big day for Jobs Data, which the Bureau of Labor Statistics released thier reports.  The Average Earnings modestly rose 0.1% in October.  The Non-Farm Payrolls rose by 638k new jobs, while the Unemployment Rate dropped from 7.9% in September to 6.9% in October.  This can be a little misleading, as we saw an uptick in people leaving Unemployment for part-time work.  We saw some of this after the Credit Crisis.  Lastly, the Wholesale Inventories rose by 0.4% in September.  Stocks are Up again today, as we go thru more Election saga.  The Fed provided their announcement yesterday, which didn't change much, but they did reiterate the necessity of rolling out another Stimulus program, as many people are really struggling.  MBS is currently Down 16bps, so Mortgage Rates have worsened (about an 0.125% to the rate).  While Yields skyrocketed past it's 25 DMA and next Technical level to 0.82%.

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