Tuesday, June 8, 2021

Daily Market Report 6/8/21

 http://MikesDailyMarketReport.com:  The NFIB Small Business Survey dipped by 0.2 points to 99.6.  This survey gauges the confidence with Small Business Owners, which important because they make up the bulk of the US employment data.  Their concerns lie with finding employees to work and rising inflation.  Stocks are Down as they wait for the CPI report on Thursday.  DOW and NASDAQ have been trading near all time highs, so they're receptive to the notion that the Fed may be pulling some of the punch from the punchbowl soon, if the economy and inflation continues to grow.  There was a disruption to many major websites (like CNN and NYT) due to some internal issues at Fastly.  This added to some Market instability early in trading, as many did not know the source of the problem.  Meanwhile, MBS jumped above it's 25 DMA and currently Up 6bps.  Mortgage Rates remain Unchanged in the process, as this isn't enough movement to make any changes.  Yields have dropped below it's Technical floor, which has been holding steady for awhile; and is now testing another Technical level at the 1.53% level.

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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 please direct message me.

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