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By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: Quiet news day today, as there are no data to report on the Economic Calendar; and the Headline news is based on Investors Optimism of the reopening, while shrugging off the domestic violence and rising tensions with China. Stocks are currently in Mixed Territor...

By Mike Bjork
(Pinnacle Home Loan)
Comments 2
http://MikesDailyMarketReport.com: The Case Shiller HPI rose from 4.2% YoY in February to 4.4% in March; however, the FHFA HPI dropped from 6.1% in February to 5.9% in March. Consumer Confidence began to rise in May, as it went from 85.7 to 86.6. Also, a bit of a surprising report, is New Home Sa...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: There are no economic data to report today. Stocks are Down this morning after reflecting on this week's events and heading into a long weekend. President Trump was asked a question regarding a possible 2nd wave, which he responded that we'll put out fires, but ...

By Mike Bjork
(Pinnacle Home Loan)
Comments 2
http://MikesDailyMarketReport.com: Initial Jobless Claims continued it downward trend in people applying for unemployment benefits, as it dropped from 2.69 million in last week's report to 2.44 million in this week's report. The Philly Fed improved from -56.6 April to -43.1 in May. This index rep...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: The FOMC Minutes will be released around 11am PST today, but we don't anticipate any news from these notes. Stocks are Up this morning on good earnings reports from retailers (like Target and Lowes). MBS is currently Up 11bps, and yesterday, it closed Up 27bps, ...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: As expected, Housing Starts dropped in April, as it was reported at 891k annualized units (just under forecasts). Building Permits (future Housing Starts) also, dropped in April to 1.074 million (better than forecasts) annualized units. Stocks are a bit Mixed, a...

By Mike Bjork
(Pinnacle Home Loan)
Comments 2
http://MikesDailyMarketReport.com: The NAHB Home Builders Index rose from a low of 30 in April to 37 in May. This index indicates the confidence level of Home Builders in the US on the Housing Market. Stocks are way Up this morning on news that Moderna Pharmaceuticals announced positive results f...

By Mike Bjork
(Pinnacle Home Loan)
Comments 2
http://MikesDailyMarketReport.com: Retail Sales continued their decline in April, as they dropped 16.4%; and when you exclude "big ticket" items, like autos, then it dropped 17.2%. Manufacturing in the NY region improved some, but the number is still pretty bad, as the Empire State Index webt fro...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: The initial Jobless Claims for last week were a little higher than forecasts, but still lower than previous report, and came in at 2.98 million people applying for unemployment benefits for first time. This trend is lowering, but it's still disturbing to see so ...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: The Producer Price Index, which is inflationary data on the Wholesale Sector, dropped 1.3% in April, as it's YoY dropped from 0.7% in March to -1.2% in April. It's Core PPI (excluding food and energy) dropped 0.3%; and it's YoY went from 1.4% in March to 0.6% in...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: The NFIB Small Business Index dropped from 96.4 in March to 90.9, which many thought it would dive down into the 80s. This report represents the confidence in Small Businesses. The Consumer Price Index dropped 0.8% in April and it's YoY dropped from 1.5% to 0.3%...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: There are no economic data to report today. Stocks are trading in Mixed Territory this morning. NASDAQ is the only index in positive territory. There are some reports out that there may be some increased levels of coronavirus around the different parts of the wo...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: The BLS released their Jobs data today, so we'll start with the Non-Farm Payrolls, which lost 20.5 million jobs in April while the Unemployment Rate soared to 14.7%. This is the 2nd Highest Unemployment Rate now on record. Also, it was just a matter of 2 months ...

By Mike Bjork
(Pinnacle Home Loan)
Comments 2
http://MikesDailyMarketReport.com: Initial Jobless Claims are still reporting high volumes of claims, but it has been trending lower each week, as it report 3.85 million for last week's report to 3.17 million today. Productivity dropped 2.5% for Q1, however, it exceeded it's forecasts of -5.5%. U...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: The ADP Employment Report had revised it's March numbers from -26k to -149k; while April shows a drop of 20.2 million. Definitely shows a bleak week for Jobs data this week, as this is the first of 3 Jobs data we'll see this week. Stocks were in Negative Territo...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: The only data being reported today is on the Services Industry. The Markit Service PMI dropped down to 26.7 in April; while ISM Non-Manufacturing Index dropped down to 41.8%. Anything below 50 on either index is considered in Contraction/Negative Territory. Stoc...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: Factory Orders dropped by 10.3% in March. Stocks are mostly down, but Mixed presently, as NASDAQ is the only index to jump into positive territory. Investors are reviewing the Presidents and other Officials comments about US and China's relationship, which seems...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: The Markit Manufacturing PMI dropped down to 36.1 for April; while the ISM Manufacturing Index dropped to 41.5. Construction Spending rose by 0.9% in March. Stocks are Down on Corporate Earnings release and outlooks, including 2 Big Tech Companies (Apple and Ama...

By Mike Bjork
(Pinnacle Home Loan)
Comments 2
http://MikesDailyMarketReport.com: Just a forewarning, I may have rambled on a bit too much today, so I apologize beforehand. However, we do have a lot of economic data to report today. The Weekly Jobless Claims came in at 3.84 million, with revisions of approximately +15k in the previous report....

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: The initial view of Q1 GDP shows the economy dropped 4.8%, which is on the heels of Q4 being up 2.1%. Pending Home Sales dropped 20.8% in March. The FOMC wraps up their 2 day meeting today, which Fed Chair Powell will provide his announcement at 11:30am PST. Sto...

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