Daily Market Report 4/9/19

http://MikesDailyMarketReport.com: The NFIB Small Business, which gauges the Small Business' Confidence, increased 0.1 in it's index, going from 101.7 to 101.8 in March.  Job Openings shrank in February, as they went from 7.6 million in January to 7.1 million.  Stocks are in Negative Territory, as the US threatened new Tariffs ($11 Billion) on EU products in retaliation to their subsidies to Airbus.  PM May is meeting with Chancellor Merkel and PM Macron regarding the possibility of a delay to Brexit.  The IMF has revised for the 3rd time this year a lower economic growth for world economy.  MBS is down 13bps, which Lenders will price Mortgage a little worse today.  Yields are around 2.50%.

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Daily Market Report 4/8/19

http://MikesDailyMarketReport.com: The only item on the Economic Calendar is Factory Orders, which dropped 0.5% in February.  Data show Manufacturing still strong, but they're becoming more cautious.  Stocks are down today after a nice ride upwards last week.  There is a Brexit deadline this week (the 12th), but they're trying to postpone it further.  Meanwhile, we wait to hear from the US and China on a date for their 2 presidents to sign the final agreement.  MBS is only Up 3bps, so Mortgage Rates remain Unchanged.  Yields are still hanging in the 2.51% range.

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Daily Market Report 4/5/19

http://MikesDailyMarketReport.com: Today is the Big Jobs Day!  Nonfarm Payrolls came in higher than expectation (177k) and much higher than February's number, which was revised higher (to 33k).  It came in at 196k.  The Unemployment Rate remained at 3.8%.  However, Average Hourly Earnings only rose 0.1% in March.  It's YoY is still just over 3%, which Investors are happy because it's a happy medium between a strong economy and wage based inflation.  Stocks are in Positive Territory this morning, as a result of the Jobs data and continued optimism on an Trade Agreement between US and China.  MBS are Up 11bps, which coupled with yesterday's positive day, will lead to a little better pricing today, so Mortgage Rates are a little better today.  Yields have tempered a little, and have come down to 2.50%.

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Daily Market Report 4/4/19

http://MikesDailyMarketReport.com: The Weekly Jobless Reports continue to drop, as they go from 212k people applying for Unemployment Benefits the prior week to 202k applying for the Benefits last week.  Tomorrow is the Jobs Report by the Bureau of Labor Statistics (BLS).  Stocks are Mixed this morning, as the DOW is the only index in Positive Territory.  Investors continue to watch for any news on the US/China Trade Talks.  President Trump is due to meet the Vice Premier today, just after close of the Stock Market.  Some think that a Summit might be announced around then.  We'll have to see!  Still more to hammer out in negotiations.  MBS are Up 5bps, so Mortgage Rates remain Unchanged from yesterday's pricing.  Yields remain at 2.51%.

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Daily Market Report 4/3/19

http://MikesDailyMarketReport.com: Today marks the first of 3 Job data this week, which we start with the ADP Employment Report.  It reported that there were 129k new jobs in the private sector.  Tomorrow will be the Weekly Jobless Claims, then Friday, will be the BLS' Jobs Report.  The Services Industry experienced a decline in March, as both the Markit Services PMI (came down from 56.0 to 55.3) and ISM Non-Manufacturing Index (down from 59.7% to 56.1%) dropped from February's data.  However, Stocks are Up this morning, taking the Global Lead, as reports surfaced that the US and China Trade Talks are about 90% completed.  The last 10% become a bit trickier, as each side will need to compromise.  Also, China had some positive economic data reported today, helping the Positive outlook today.  MBS are down 13bps, which will lead Lenders to worsen their Mortgage Rates a bit this morning.  Yields have climbed up to 2.51% now.

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Daily Market Report 4/2/19

http://MikesDailyMarketReport.com: It's a fairly quiet day today, after Stocks held a pretty good rally yesterday.  Durable Goods Orders is the only item on the Economic Calendar today.  January's numbers were revised from being up 0.3% to being up 0.1%.  It dropped 1.6% in February, as forecasts showed a drop of 2.1%.  Transportation is the main dragging it down.  If you remove it, then it's up 0.1%.  Stocks are trading in Mixed Territory currently, with NASDAQ the only index in Positive Territory.  MBS is Up 3bps, so Mortgage Rates remain Unchanged from yesterday's pricing.  Some Lenders did a reprice yesterday for the worse, so rates worsened a bit; as today's pricing would correlate after yesterday's re-pricing.  Yields remain at 2.49%.

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Daily Market Report 4/1/19

http://MikesDailyMarketReport.com: Jobs data will be the big news this week, but today, we have: Retail Sales, which declined by 0.2% in February; and declined by 0.4% without Autos.  Manufacturing is a bit Mixed today, as the Markit Manufacturing PMI dropped from 53 to 52.4 in March; while ISM Manufacturing Index increased from 54.2% to 55.3%.  Construction Spending rose 1% in February.  Business Inventories rose 0.8% in January.  Stocks are trading in Positive Territory, as Manufacturing in China improved after 4 months of contraction.  However, the news wasn't as good in the EU, as it continued to contract.  Talks resume in Washington between the US and China this week.  Reports from both parties indicate talks progressing nicely.  MBS is down 22bps, which translates to a little higher Mortgage Rates today; as, Investors move their funds from safe havens, like Bonds/MBS, to more risky investments, such as equities/stocks.  Yields have jumped up to 2.49%.  Much higher than last week!

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