Tuesday, December 1, 2020

Daily Market Report 12/1/20

 http://MikesDailyMarketReport.com: Construction Spending rose 1.3% in October.  The ISM Manufacturing Index, like yesterday's Chicago PMI report, dipped from 59.3 to 57.5 in November.  The ISM Manufacturing is considered the "Gold Standard" for the Manufacturing reports.  Stocks are Up after a very big November.  Congress is restarting Stimulus talks again.  Mnuchin and Powell are testifying before Congress.  Also, according to a report by Adobe Analytics, Cyber Monday broke another record at $10.8 Billion in online sales yesterday.  However, MBS has lost their gains from yesterday, and are currently Down 23bps; so, Mortgage Rates have stepped up a little bit today.  Also, Yields are having a big day, as it jumps above it's 25 DMA and the next Technical level.  It's currently sitting at 0.92%.

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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

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