Mike Bjork's (mbjork) Blog

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Mortgage and Lending - Evolve Bank & Trust - NMLS #275652
RECENT BLOG POSTS
http://MikesDailyMarketReport.com:  Factory Orders rose 1.5% in June.  Tomorrow, we'll see the 1st set of Jobs data for July, as the ADP will release their Private Payrolls data.  We saw the increase in Initial Jobless Claims go back above 400k this past month, so I'm going with the assumption th...
08/03/2021
http://MikesDailyMarketReport.com:  The ISM Manufacturing PMI dropped below 60 for the first time this year, as constraints in the supply chain show it's effect in Manufacturing data.  It came in at 59.5 for July.  Construction Spending only rose 0.1% for June.  Stocks are Up today, as comments b...
08/02/2021
http://MikesDailyMarketReport.com:  The PCE, the Fed's favorite measure for Inflation, rose 0.5% MoM in July, as it's YoY rose to 4.0%; whereas it's Core PCE (excluding food and energy) rose 0.4% MoM in July and it's YoY rose only to 3.5% (beating hotter estimates of 3.7%+).  The Employment Costs...
07/30/2021
http://MikesDailyMarketReport.com:  Initial Jobless Claims continue to disappoint again, as they remain in the 400k range; which happens to be this week's report (400k exactly).  Another trend popped up, is the Continuing Claims, which is starting to rise again.  Something we'll need to watch clo...
07/29/2021
http://MikesDailyMarketReport.com:  The FOMC will wrap up their 2 day meeting today and give their announcement at 11am PST.  We're not expecting any rate changes and there won't be any dot plot released today.  Currently, the Market is waiting on the Fed, so it could get really choppy out there ...
07/28/2021
http://MikesDailyMarketReport.com:  The Durable Goods Orders revised their May's numbers from 2.3% to 3.2%; whereas, it's June data disappointed with 0.8%.  Because of the May revision, it didn't affect the overall Markets.  When you exclude Transportation, then it only rose 0.3% in June (also, d...
07/27/2021
http://MikesDailyMarketReport.com:  New Homes Sales dropped by 6.6% in June to 676k seasonally adjusted annualized units.  This is also on the heels of a lower revision to May's numbers, which dropped from the initial 769k to 724k.  Stocks are Mixed today, as they look ahead in the week, as the F...
07/26/2021
http://MikesDailyMarketReport.com:  Today, we have IHS Markit PMI releasing their 2 reports, Manufacturing and Services.  The Services sector dropped down to 59.7; however, the Manufacturing sector rose to 63.1 in July.  Stocks continue their upward trend, based on Q2 Corporate Earnings Reports a...
07/23/2021
http://MikesDailyMarketReport.com:  The Initial Jobless Claims spiked last week to 419k (breaking back above the 400k level).  The good news is the Continued Claims dropped slightly.  NAR reported that Existing Home Sales increased from 5.78 million annualized units in May to 5.86 million in June...
07/22/2021
http://MikesDailyMarketReport.com:  There are no economic data to report today.  Stocks are continuing upward trend on more good Q2 Earnings Reports.  The ECB announced a bit of a dovish signal on their stance with inflation, which sounds similar to that of our Fed's current stance.  This set a t...
07/21/2021
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