stock market: Market Update 11-14-2008 - 11/14/08 02:06 PM
US Stocks are struggling to get back to even for the day, after initially giving up more than half of yesterday's gain.  Mortgage Bonds are better than yesterday, but not enough to see any meaningful rate improvement.
 
Stocks took their cue from today's Retail Sales report that showed a 2.8% decline for October, the biggest drop in 28 years.  This marks the 4th consecutive month of declining sales volume, which has not happened since 1974.   While the decrease should not come as a shock to anyone, it was more than economists were expecting, and is representative of the largest month … (1 comments)

stock market: Market Update 11-10-2008 - 11/10/08 06:12 PM
US Stocks began the day on the upside following the trend from overseas markets, but quickly fell into the red.  Mortgage Bonds held early gains longer, but also turned negative before their early closing.  
Stocks took their cue from overseas markets early on as the Dow jumped out to a 200 point gain before succumbing to what have become ongoing worries over the global economic outlook.  The mood was enthusiastic from China's announcement of a $586 Billion internal stimulus package of their own.  Beijing is planning on spending roughly 15% of their country's GDP on infrastructure upgrades in an effort to stimulate … (2 comments)

stock market: Market Update 11-03-2008 - 11/03/08 01:27 PM
US Stocks are trading in a fairly narrow range, given the recent history of wild swings, and the Dow is trying to find a way to post a positive in the face of a dismal reading from the ISM Index.  Mortgage Bonds are up slightly as they continue to trade sideways.  
Stocks are taking the news of the nation's worst reported output in 26 years pretty well in stride as the Dow has spent the majority of the day in positive territory.  The Institute of Supply Management  (ISM) Index which tracks purchasing managers across most of the country's manufacturing  sectors … (0 comments)

stock market: Market Update 10-22-2008 - 10/22/08 04:48 PM
US Stocks are down today with the Dow of by as much as 5% as investors deal with poor earnings, and fears of global recession .  Mortgage Bonds are holding on to slight gains as they push against technical pricing resistance.  
The Dow is back down to the 8,600 range as investors look to sell in a Market with few buyers.  There are no economic reports to give the Market any direction today so investors must focus on corporate earning which have been as gloomy as predicted.  Not all the news was bad, McDonald's ( a Dow component) reported an … (2 comments)

stock market: Market Update 10-21-2008 - 10/21/08 03:51 PM
After a day of only positive numbers, US Stocks are back to the roller coaster we have come to expect with the Dow down by over 200 points, as well as being in positive territory throughout the day.  Mortgage Bonds have not been nearly as volatile, and have traded within a plus or minus 10bp range most of the day.  
Stocks have faced heavy pressure through out the day as the focus has shifted from headline news to actual earnings reports, and corporate outlooks.  The biggest loser in today's Market has been the Technology Sector.  Both Sun Microsystems, and Texas … (0 comments)

stock market: Market Update 10-20-2008 - 10/20/08 03:46 PM
US Stocks are on a strong rally, responding well to the prospect of another government stimulus package.  Mortgage Bonds are also much better, as they push to finish above their 200 day average.  
Stocks continued their winning ways to start the week, as the Dow is enjoying the first day in a long time where its Stocks never ventured into negative territory.  In testimony today, Chairman Bernanke endorsed a 2nd Stimulus, stating "a fiscal package by the Congress at this juncture seems appropriate."  This seems as much an admission that Central Bank monetary policy alone is not enough to fix … (2 comments)

stock market: Market Upate 10-17-2008 - 10/17/08 03:15 PM
US Stocks continue their roller coaster ways as the Dow has been down by 200, and up by 300 while it is currently nearly flat for the day.  Mortgage Bonds have also traded in a seesaw manner as they react to Stocks, but they look to finish positive for a third day in a row.  
Stocks began the day on the down side when we received more bad news from the housing sector.  The Commerce Department reported housing starts declined by 6.3% in September bringing the annual rate to its lowest since early 1991.  The current construction pace of new … (0 comments)

stock market: Market Update 10-16-2008 - 10/16/08 12:17 PM
 US Stocks are back on the seesaw today as the Dow was initially up by triple digits, then down nearly 400, and currently has rallied back to be "only" down 150.  Mortgage Bonds enjoyed a strong rally yesterday, bouncing off their lows of the year, and ending the day with enough gains to push mortgage rates better by as much as .25%.  
 Stocks rallied to start the day on positive news regarding inflation from the Consumer Price Index, but nose dived shortly after receiving more bad news from the manufacturing sector.  Today's CPI numbers showed better than expected results with overall … (0 comments)

stock market: Market Update 10-15-2008 - 10/15/08 12:40 PM
Us Stocks are falling once again, with the Dow testing the 9000 mark.  Mortgage Bonds are also under pressure, but have made some gains after touching on their low point (= high rates) for the year.  
While Stocks are down across the board, it looks like today's losses are at least partially due to actual economic, and earnings reports rather than fear.  On the positive side Intel, and Coca Cola posted increased profits for the 3rd quarter, and their stock is up.  In the financial sector, JP Morgan and Wells Fargo both reported significant declines in quarterly profit, but their stocks are up … (0 comments)

stock market: Market Update 10-14-2008 - 10/14/08 01:39 PM
US Stocks looked to build on yesterday's historic rally, gaining 400 points in early trading, but have since cooled down and are back to the day's starting numbers.  Mortgage Bonds opened down from yesterday, and despite an early rally have settled close to the opening mark.  
Stocks benefitted early from investor's exuberance over further announcements by the US government to invest $ Billions directly into some of the country's largest banks. The plan is much the same as the one announced by England last week where the government will temporarily buy stakes in several major banks in order to recapitalize the Financial … (1 comments)

stock market: Market Update 10-13-2008 - 10/13/08 02:58 PM
US Stocks are responding well to the latest round of government support with the Dow trying to finish above 9000, after falling below 8500 last week.  Mortgage Bonds are not trading today due to financial markets observance of the Columbus day holiday.  
Stocks rallied out of the gate this morning on across the board buying, leading to the Dow's largest intraday gain in history.  After a weekend that saw a flurry of government activity aimed at increasing confidence in the banking, and credit markets, all three major indexes have risen as much as 7%.  General Motors has seen increases of over … (3 comments)

stock market: Market Update 10-10-2008 - 10/10/08 04:51 PM
Today's update is more of a market wrap, as I tried on several occasions to create an update, but was unable to type fast enough!  The Dow ended down by 128 points on the day, but traded in a record range of over 1000 points after falling by nearly 700 points in the first 8 minutes of trading.  Mortgage Bonds did not fare any better, losing 109 bp, and falling well below what were previously considered strong levels of support.  
The Dow rebounded briefly to positive territory in an afternoon rally, but by the end of the day, stocks were back … (0 comments)

stock market: Market Update 10-09-2008 - 10/09/08 12:58 PM
US Stocks are "enjoying" another roller coaster day on Wall Street with the Dow up as much as 200 points, but now down about 100.  Mortgage Bonds have been more consistent, but in a negative manner, moving negatively toward the 200 day average.  
Stocks were looking for a bounce back day, and Globally, Stocks rebounded in other markets.  Yesterday's coordinated rate cut by many of the World's Central Banks (except Japan) was generally well received, but the Dow still crashed at the end of the day, posting another significant loss.  The US Treasury is floating  a possible plan to take an ownership … (3 comments)

stock market: Market Update 10-07-2008 - 10/07/08 01:18 PM
US Stocks are extending yesterday's losses after a brief rally to start the day.  Mortgage Bonds are trying to hold their gains as they trade in reactions to Stocks once again.  
The Dow is currently down triple digits despite a positive start on news of the Fed's latest effort to kick start the Market.  Just before today's trading opened, the Fed officially announced they would buy unsecured "Commercial Paper" by creating the Commercial Paper Funding Facility (CPFF).  The Fed hopes this facility can help prevent further disruptions to the economy by helping companies with their day to day operations such as financing payroll, … (0 comments)

stock market: Market Update 10-06-2008 - 10/06/08 01:24 PM
US Stocks are plummeting on concerns over the recent government bailout with the Dow down by more than 500 points.  Mortgage Bonds are one of the beneficiaries of this flight to quality as we currently trade back near the levels of two week's ago.
Declining Stocks are currently at a 30 to 1 ratio versus gaining issues on the New York Stock Exchange as the Dow has fallen below 10,000 for the first time in 4 years, despite last week's $700 Billion financial bailout.  Regardless of the bailout, we will still see more bank failures to come, such as demonstrated by Wachovia … (0 comments)

stock market: Market Update 09-26-2008 - 09/26/08 03:15 PM
US Stocks are trending flat to slightly negative on uncertainty over the government bailout, and the predicted failure of WAMU.  Mortgage Bonds are following suit as they trade in a very tight range.  
The Stock Market is waiting to see what actually comes out of Washington as the news on the bailout continues to ebb and flow.  While it seems imminent that there will be some form of bailout, the uncertainty over the form it will take is causing the Markets to pause.  A group of economists that includes 3 Nobel Prize winners has urged Congress to not act out … (0 comments)

stock market: Market Update 09-23-2008 - 09/23/08 05:04 PM
Today is not so much an update as an explanation.  
US Stocks are finishing down for the day with the Dow off by over 150 points after experiencing triple digit gains earlier.  Mortgage Bonds have also seesawed up and down throughout the day, and will finish negative though not by much.  
There were no economic reports to look to for guidance by Stocks, but I doubt anyone would have paid attention as all eyes are on Capitol Hill watching for progress on the government's latest bailout.  Investor's seemed frozen by uncertainty of what would come from Washington as Treasury … (2 comments)

stock market: market Update 09-22-2008 - 09/22/08 03:50 PM
US Stocks are in a deep decline following last week's rally with the Dow currently down over 300 Points.  Mortgage Bonds have traded down from last week, breaking below support levels for the first time in 2 weeks.  
Stocks are plummeting following the release of the government's hastily prepared rescue plan for the Financial Sector of the economy.  After Stocks jumped higher on the news the government was taking decisive action to deal with the financial meltdown on Wall Street, most of the gains have now been given back.  Most of the action for Stocks was in Commodities trading.  Apparently, the Market has digested … (4 comments)

stock market: Market Update 09-19-2008 - 09/19/08 01:39 PM
US Stocks have extended yesterday's momentous end of the day rally with the Dow steadily up by over 350 points today.  Mortgage Bonds have been up and down, and have now fallen below technical pricing support for the first time since the government bailout of FNMA/FHLMC.  
This has truly been a historic week of government actions.  In the last 24 hours, we've seen the US Treasury, and Federal Reserve working with, and through Congress, initiate some very bold moves.  In response to what amounted to a public outcry of fear about the security of supposedly safe asset investments, Treasury Secretary … (2 comments)

stock market: Market Update 09-18-2008 - 09/18/08 04:11 PM
US Stocksare experiencing another roller coaster day as the Dow has been both up, and down by over triple digits, and is currently up over 300 points.  Mortgage Bonds have also been up and down all day, but stayed within their recent range of resistance and support.  
Once again Market headlines rule the day, and force economic reports to the back of the bus.  In a week that has seen two investment banks go away, and one of the world's largest companies be bailed out by the US government, is it really a surprise to see the world's Central Banks work in a … (2 comments)

 
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Ron Brown MLO-270845 VA/FHA Specialist Alpine Mortgage Planning NMLS 81395

Puyallup, WA

More about me…

Division of Pinnacle Capital Mortgage Corp

Address: 33400 Ninth Ave S, suite 120, Federal Way, WA, 98003

Office Phone: (253) 874-7163

Cell Phone: (253) 520-0000

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The views, and opinions expressed here represent the personal views, and opinions of Ron Brown. They are not necessarily the views of First Mortgage Company, and should not be construed as being so. They are for informative purposes only, and any persons reading them are encouraged to research there current relevance, and timeliness before taking any action.


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