http://MikesDailyMarketReport.com: Initial Jobless Claims improved last week, as only 212k applied for benefits (vs. 228k the previous week). Housing Starts improved in April, as they rose from 1.168 million annualized units in March to 1.235 million in April. Also, Building Permits, which are future Housing Starts, rose from 1.288 million in March to 1.296 million annualized units in April. Manufacturing had a nice uptick in Philadelphia, as it did in NY area earlier this week, as it's Philly Fed Index indicated that it jumped up from 8.5 to 16.6 in May. Stocks are really liking the Economic Data today, as the DOW up more than 200 so far, as they place the US/China tensions on hold for at least for a moment. It appears that Huawei may have a more difficult to obtain any of their products from US companies, like their microchips, as the US is planning to add them to a list preventing any US Companies sell them any goods. MBS is currently down 8bps, which is not enough movement to change pricing, so Mortgage Rates remain Unchanged. Yields rebounded up to 2.41%.
Please subscribe to my Blog and YouTube Channel at MikesDailyMarketRpt
Check out my Facebook page for Real Estate Agents at FreeHelpForCARealEstateAgents
Comments(2)