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By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: Manufacturing in the NY region had one of it's worst declines in June, according to the Empire State Index, which went from 17.8 in May to -8.6 in June.  Also, confidence is starting to wane with Home Builders, as the NAHB Home Builder Index, which is a survey t...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: There's a lot of data on the Economic Calendar to report today. We'll start with the Retail Sales and Retail Sales without Autos for May, which were both up 0.5%. This was on the heels of a positive revision the previous month for both data points. Industrial Pr...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: Initial Jobless Claims rose 3k from the previous week's numbers, going from 219k to 222k. However, the previous week's numbers were revised higher by 1k (218k to 219k). Stocks are trading in Positive Territory this morning. There was a more positive tone today, ...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: The Consumer Priced Index rose only 0.1% in May, which it's YoY dropped from 2.0% to 1.8%. The Core CPI (excluding food and energy) also rose only 0.1%. It's YoY dropped from 2.1% to 2.0%. Stocks are trading in Negative Territory, despite the lower Consumer Infl...

By Mike Bjork
(Pinnacle Home Loan)
Comments 2
http://MikesDailyMarketReport.com: NFIB Small Business, which measures the confidence among Small Businesses, rose from 103.5 in April to 105.0 in May. Producer Priced Index, which measures inflation on the Wholesale sector, rose 0.1% in May. However, it's YoY dropped from 2.2% to 1.8%, further i...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: Nothing to report on the Economic Calendar today. Stocks are Up this morning after it was announced over the weekend that the US and Mexico reached an agreement over the migration issue, so the US will not impose sanctions. Steven Mnuchin and PBC's Yi Gang had r...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: Nonfarm Payroll really disappointed in May, as only 75k new jobs were created. Also, there were revisions from the previous 2 months, which were lowered by 75k combined. Unemployment remained unchanged at 3.6%. Average Hourly Earnings rose 0.2% in May. Wholesale...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: Initial Jobless Claims rose this week from 215k from previous week to 218k. These are still low numbers, which is why Investors shrugged off the ADP number yesterday. They're anticipating approximately 190k new jobs for tomorrow's BLS' report. Q1 Productivity wa...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: ADP Employment number really missed it's mark in May. It went from 271k new private jobs in April to only creating 27k in May. This didn't weigh on the Market too much, as the ADP's number doesn't always translate to the same as the BLS'. Most think the BLS' num...

By Mike Bjork
(Pinnacle Home Loan)
Comments 2
http://MikesDailyMarketReport.com: Factory Orders dropped 0.8% in April. Starting tomorrow, we'll look at the Job Numbers for May, which begin with the ADP numbers, then Weekly Jobless Claims on Thursday and BLS' Unemployment Rate and Jobs data. Stocks are rebounding after yesterday's Negative Cl...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: Overall Manufacturing dipped in May. The Markit Manufacturing PMI dropped from 50.6 to 50.5; whereas, ISM Manufacturing Index dropped from 52.8% to 52.1%. These are the lowest levels we've seen in approximately the past 20 months. Construction Spending was revis...

By Mike Bjork
(Pinnacle Home Loan)
Comments 2
http://MikesDailyMarketReport.com: A lot of Economic data to go over this morning from the Calendar. We'll start off with Personal Income, which rose 0.5% in April; whereas Consumer Spending rose only 0.3% in April. Personal Consumption Expenditure (PCE) rose 0.3% in April, which it's YoY rose fr...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: Initial Jobless Claims rose from 212k (this was revised slightly higher from 211k) to 215k (same as forecast). Still very low amount of people filing for Unemployment. Q1 GDP was revised slightly downward, from 3.2% to 3.1%. Many economists were forecasting it t...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: Nothing scheduled for the Economic Calendar today, but tomorrow will be much busier. The Stock Market is in Negative Territory this morning on more news on the escalating tensions between US and China. China is now reporting that they may restrict exports to the...

By Mike Bjork
(Pinnacle Home Loan)
Comments 3
http://MikesDailyMarketReport.com: Case Shiller Home Price Index indicates that home prices continue to slow down, having a 3.9% annualized growth in February to 3.7% in March. Consumer Confidence Index represents the overall satisfaction by the Consumer with the standing of the US Economy, as it...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: Durable Goods Orders dropped 2.1% in April, and it's March's number was revised lower, from 2.6% to 1.7%. The big drop was led by lack of Boeing orders (this is after the grounding of their 737 airplanes). If you remove the Transportation, the Durable Goods woul...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: Weekly Jobless Claims dropped from 212k from previous week to 211k last week; another good sign for Jobs. However, we show Manufacturing and Services Industry slowing down. Markit Manufacturing PMI flash dropped from 52.6 in April to 50.6 in May; and Markit Serv...

By Mike Bjork
(Pinnacle Home Loan)
Comments 2
http://MikesDailyMarketReport.com: The only item on the Economic Calendar today is the FOMC Minutes, which will be released at 11:15am PST. Investors are eager to review the Minutes of the Feds' last meeting and look for clues on their thoughts on the economy, rate movement and US/China. Stocks a...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: Existing Homes Sales slumped a bit in April, as they go from 5.21 million annualized units to 5.19 million. Stocks are cautiously trading in Positive Territory, as the US placed a Temporary (90 days) Exception on US Businesses dealings with Huawei. MBS is curren...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: There are no economic data to report from the Calendar today. Stocks are being driven by the continued tensions between the US and China, as both parties agree they won't be meeting any time soon, as neither side is willing to negotiate further. Also, US Compani...

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