Daily Market Report 8/15/19

Mortgage and Lending with CMG Financial NMLS #275652/1820

http://MikesDailyMarketReport.com: We have a lot of data on the Economic Calendar being released. Initial Jobless Claims rose a little bit to 220k this week. Retail Sales rose 0.7% in July; and when you exclude Autos, then it rose 1.0%. Productivity rose 2.3% for Q2. Unit Labor Costs rose 2.4% for Q2. Empire State Index rose from 4.3 in July to 4.8 in August. Philly Fed Index dropped from 21.8 to 16.8. Industrial Production dropped 0.2% in July. Capacity Utilization dropped from 77.8% to 77.5% in July. Business Inventories remained Unchanged in June. NAHB Home Builders Index rose from 65 to 66 in August. For more clarification on this data, then please check out the video. Stocks started the day off very volatile due to comments by China on Tariffs and Negotiations. We saw swings to the low when they commented about Tariffs being placed in September to change of tone later in the day when they stated they'd like to accomplish a mutual beneficial agreement between the 2 nations. Stocks are in Positive Territory, as Walmart reported bullish earnings, along with strong Retail Sales. MBS is Up 31bps, so Mortgage Rates have improved from yesterday, and are about to pressure it's overhead ceiling of resistance. Yields have continued to slide, which are currently sitting below it's 2nd floor of support. It's currently at 1.534% Next floor of support is 1.325%, which is the Yields All-Time Low.

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interest rates
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