Mike Bjork's (mbjork) Blog

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Mortgage and Lending - SunWest Mortgage - NMLS #275652/1820

ARCHIVED BLOG POSTS

2020 

http://MikesDailyMarketReport.com: Consumer Spending rose 5.6% in June; while Personal Income dropped 1.1% in June. The Fed's favorite index that gauges inflation Personal Consumption Expenditure(PCE) without the food and energy being added came in very tame in June, as it only rose 0.2% in Mom; ...
07/31/2020
http://MikesDailyMarketReport.com: Initial Jobless Claims had another little spike again this week, which it increased from last week's number of 1.42 million people applying for unemployment benefits for first time to 1.43 million in this week's report. Also, we get an initial look at the GDP fo...
07/30/2020
http://MikesDailyMarketReport.com: The Pending Home Sale Index rose 16.6% in June. Stocks are Up this morning before the FOMC finishes and Fed Chair Powell announces their decision at 11:30 am PST. They are not expected to change rates. Their Announcement may not have much impact with the Market ...
07/29/2020
http://MikesDailyMarketReport.com: The Case Shiller HPI showed a slowdown in National Home Prices in May, as it dropped from 4.6% YoY Appreciation in April to 4.5%. I'm confident this will rise, as we head into summer. Consumer Confidence dropped from 98.3 in June to 92.6 in July, as several stat...
07/28/2020
http://MikesDailyMarketReport.com: The Durable Goods Orders increased 7.3% in June, surpassing it's forecast of 6.5%. There will be other reports this week, which includes the first look at Q2 GDP; and the FOMC starts tomorrow, with their Announcement on Wednesday. Stocks are trading in Positive ...
07/27/2020
http://MikesDailyMarketReport.com: Markit Manufacturing PMI moved into Expansion territory in July, as it went from 49.8 in June to 51.3. Markit Services PMI improved in July, as it's June number was 47.9 and jumped up to 49.6 in July. Anything below 50 is contraction territory and anything above...
07/24/2020
http://MikesDailyMarketReport.com: The Initial Jobless Claims for the first time since Feb/March, as last week's report was 1.31 million people applying for first time benefits to this week's report at 1.41 million. Leading Economic Indicators dropped from 3.2% in May to 2.0% in June. The rise in...
07/23/2020
http://MikesDailyMarketReport.com: The Existing Home Sales jumped Up from 3.91 million annualized units in May to 4.72 units in June. This is just over 20% MoM jump, which is the largest, according to NAR. Stocks are Up this morning on Corporate Earnings releases, despite tensions continuing to h...
07/22/2020
http://MikesDailyMarketReport.com: There are no economic data to report today, so Stocks are taking their queues from Corporate Earning releases and Geo-Political News. This morning, Stocks are Up. The EU announced an $858 Billion plan that will provide Grants and Loans to countries whom need ass...
07/21/2020
http://MikesDailyMarketReport.com: This will be a light week, this week, in terms of economic data being released. We have to data to report today, so the Markets are taking their queues from the news. Stocks are in Mixed Territory, as the DOW is the lone index in the Red. This week, we'll see Ea...
07/20/2020
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