Tuesday, December 8, 2020

Daily Market Report 12/8/20

 http://MikesDailyMarketReport.com: We received the final revision for the Q3 Labor Costs, which rose from -8.9% to -6.6%; and the final revision for Q3 Productivity dropped from 4.9% to 4.6%.  However, Stocks are trading in Positive Territory this morning.  A 90 year old woman in the UK received the first vaccine in the UK, as they begin vaccinations there.  They're still working thru the regulations in the US in order to begin here.  As we know, the numbers are still spiking.  There's a bit of a divide in the Senate on a new Coronavirus Package, as some want a $908 billion joint bill to be passed; and another faction wants to slim it down to around $500 billion package.  MBS is Up 3bps currently, after starting the morning higher, then it dropped (testing the 25 DMA), only to return near it's opening.  Yields have come down a little bit, as it sits just under 0.91% now.

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