http://MikesDailyMarketReport.com: The Durable Goods Orders disappointed in March, as it reported only 0.5%, as forecasts called for 2.3%.  However, when you exclude Transportation, then it came in at 1.6%.  This was due to some order cancellations with Boeing; so these large Transportation numbers can really influence the outcome.  Stocks are Mixed today, as the DOW is the lone index in the Red.  Q1 Corporate Earnings reports continue to be overall very good.  We expect some high impact influencers reporting this and next week.  MBS started the morning much lower (toward lower end of it's trend line), but has responded a bit more postively and is currently Down 6bps.  Yields started the morning up much higher (surpassing it's 50 DMA and Technical ceiling), which it's now down to about ... 04/26/2021

http://MikesDailyMarketReport.com:  The IHS Markit PMI released it's Manufacturing and Services data today.  Anything above 50 is considered expanding or growth.  The Manufacturing rose to 60.6 in April and Services rose to 63.1.  New Home Sales came in very hot for March's data!  It's February numbers were revised higher from 775k seasonally adjusted annualized units to 846k.  March came in at 1.021 million.  Stocks are Up on the economic data.  The Q1 Earnings Reports are still being released; however, no major headlines to report.  It's a bit of a rebound after Traders were a bit surprised by the Capital Gains Tax proposal that was reported yesterday, which soured the Stock Market's mood.  There are whispers going around that you may see some large sell-offs in the near future, as th... 04/23/2021

http://MikesDailyMarketReport.com:  Initial Jobless Claims continued it's downward trend this week, as it was reported only 547k people applied for first time benefits.  Also, to note that Continued Claims have been dropping too.  Existing Home Sales disappointed in March, as it reported only 6.01 million seasonally adjusted annualized units.  This is due to lack of supply!  Lastly, the Leading Economic Indicators rose by 1.3% in March, which is good for future growth of the economy.  Stocks are Down this morning, as they take another day for a break, as many positions are currently in overbought position.  The ECB announced that they will remain accomodative and run the course.  This helped the Bond Market a bit this morning.  Also, Biden introduced a Capital Gains Tax bill that will h... 04/22/2021

http://MikesDailyMarketReport.com:  There are no economic data to report today, but we'll start to see some beginning tomorrow.  However, the MBA released their Mortgage Application data today, which showed an increase last week for both Purchase and Refinance loan applications.  Stocks are Up today after taking a bit of a breather and taking in some profits over the past 2 days.  Q1 Earnings are still being released; and Netflix disappointed!  Right now, the US Market isn't being affected; however, Investors are keeping a close eye on recent COVID upticks in their numbers in Japan and India.  MBS started the morning lower; however, it has worked it's way higher.  It is currently Up 8bps.  Mortgage Rates are Unchanged from yesterday's close; but, it's possible that some Lenders on the E... 04/21/2021

http://MikesDailyMarketReport.com:  Another day with any economic data to report.  This week will be light in reports being released.  Stocks are still taking a little breather after last week's big push.  Q1 Earnings Reports are still being released, but not having much impact on the Market at this time; however, Investors are watching new data indicating higher COVID case averages over the past 2 weeks.  Meanwhile, MBS is benefitting from the cool down with equities, as it's currently Up 19bps and breaking back above it's 50 DMA.  Mortgage Rates improved from yesterday's pricing.  Yields have slid back below it's Technical level and is currently sitting at 1.56%Please subscribe to my YouTube Channel at MikesDailyMarketRptAlso, these videos are base on my views and not represented by a... 04/20/2021

http://MikesDailyMarketReport.com:  Today is rather quiet, as we don't have any economic data to report and no headline news that would have any impact with the Market today.  Stocks are Down for the day, as they take a bit of a breather after last week's run.  There's no real big push for investors to continue into new highs without anything significant being reported.  Meanwhile, MBS is Unchanged from last Friday's close, which means that Mortgage Rates remain Unchanged from Friday's close.  However, they did break below it's 50 DMA, so it's worth watching.  Also, Yields broke above one Technical, but still below a very strong Technical (around the 1.62% range).  It's currently sitting at 1.60%, so hopefully it remains below the 1.62% level.Please subscribe to my YouTube Channel at Mi... 04/19/2021

http://MikesDailyMarketReport.com:  The Housing Starts increased by 19.4% in March, as 1.739 million annually adjusted units.  Building Permits, which can be considered future Housing Starts, rose by 2.7% in March with 1.766 million annually adjusted units.  Stocks are in Mixed Territory, continuing the trend to new highs.  NASDAQ is the lone index in the Red, as Yields recovered a bit today after yesterday's big drop.  They're currently sitting around 1.58%.  Stocks are looking at this week's positive economic data, along with the very good Earnings reports from the Financial Sector, as a spring board to continue their upward trajectory.  Meanwhile, MBS are still in good shape.  They did scale back a bit yesterday, from yesterday's intraday high, and closed Up 25bps.  Today, they start... 04/16/2021

http://MikesDailyMarketReport.com: We have a lot of Economic Data to go over from the Calendar today.  We'll start with Retail Sales, which received a big boost from the Stimulus checks that were recently sent out.  Retail Sales jumped 9.8% in March; and when you exclude Autos, then it jumped up 8.4%.  Manufacturing in the Philadelphia is still hot, while the Philly Fed Index came in at 50.2 for April; and in NY, it is still rising, as the Empire State Index rose 26.3.  Great News on the Jobs front, which Initial Jobless Claims came in with only 576k people applying for first time benefits last week, which is down from previous week's 744k.  Capacity Utilization improved to 74.4% in March and Industrial Production only rose 1.4% in that same period.  Business Inventories rose only 0.5% ... 04/15/2021

http://MikesDailyMarketReport.com:  We don't have any impactful data to report from the Economic Calendar today.  Stocks are trading in Mixed Territory today, as NASDAQ (this time) is the lone index in Red.  We're beginning to review the Q1 Corporate Earnings Reports, which was financials being released today.  Companies like JPM Chase, Goldman Sachs and Wells Fargo released their reports, which showed profits.  Many of the financial companies will begin to show more profits, which is why investors had rebalanced their portfolios out of High Tech to Financials due to the rising Yields.  Financial companies make more money in this environment.  Also, Fed Chair Powell is doing a Q&A, which investors are listening for any changes in his comments regarding the economy and its recovery, alon... 04/14/2021

http://MikesDailyMarketReport.com:  We had inflation data being reported today with the Consumer Price Index, or CPI, for the month of March.  The CPI jumped up 0.6% in March and it's YoY jumped up to 2.6% (up from 1.7% in February).  The Core CPI rose only 0.3% in March and it's YoY rose to 1.6% (from 1.3% previously).  Core CPI excludes both food and energy, as we (consumers) can attest at the grocery stores and gas stations that those prices have significantly rose.  Later today, we'll have the 30 yr Bond Auction, which could have some impact with Mortgage Rates (MBS Market).  Stocks are in Mixed Territory today, as the DOW is lone index in the Red.  Much of the movement today came after the news that the CDC temporarily suspended the J&J vaccination, as there have been a few cases w... 04/13/2021

http://MikesDailyMarketReport.com: The only items on the Economic Calendar today is the 3- and 10 yr Treasury Auctions.  There wasn't any response from the Market regarding it's results, which was ok.  Stocks are Down this morning after breaking new highs last week.  Fed's Powell was interviewed on 60 Minutes yesterday and reiterated what he's been saying all along that he expects economy to really pick up 2nd half of this year; no rate hike this year; inflation is transitory; and will allow Market to run hot in order to help jobs data.  MBS also improved last week, as it broke above it's 25 DMA.  However, like it's stock counter-part, it's taking a bit of a break today too, as MBS is currently Down 2bps.  Mortgage Rates should remain the same as Friday's close.  Yields are still above ... 04/12/2021

http://MikesDailyMarketReport.com:  Today, we received the Jobs data from the Bureau of Labor Statistics (BLS).  They revised their February numbers from 379k to 468k; and March came in at 916k -nearly 1 million new jobs reported!!!!!  The Average Work week increased from 34.6 to 34.9 hrs in March, which is very high (compared to historical average in mid-34 hr range).  Meanwhile, the Average Earnings dropped by 0.1% MoM in March.  Lastly, the Unemployment Rate dropped from 6.2% to 6.0%.  Stocks are Up on the Job data!  Meanwhile, MBS dropped 16bps, which led to slightly higher (about .125% rate) Mortgage Rate in the ratesheets today.  Yields rose to 1.71%.Please subscribe to my YouTube Channel at MikesDailyMarketRptAlso, these videos are base on my views and not represented by any othe... 04/02/2021

http://MikesDailyMarketReport.com: Initial Jobless claims jumped up this week from last week's revised 658k people applying for first time benefits to 719k.  Tomorrow will be the Jobs data from the Bureau of Labor Statistics (BLS).  ISM Manufacturing PMI reiterates all of the other manufacturing data that it's getting hot.  It rose from 60.8 in February to 64.7 in March, which is the highest since 1983.  Last of all, Construction Spending dropped by 0.8% in February.  Stocks are Up today after a pretty choppy March.  Investors are reviewing the newly introduced $2.3 Trillion Infrastructure Package that will raise corporate taxes.  MBS are having a good start to the month, as they're up 23bps; so, Mortgage Rates will show some improvement today.  Yields have slid down to 1.67%.Please sub... 04/01/2021

http://MikesDailyMarketReport.com: ADP revised their February's data higher, from 117k to 176k; and March's reported 517k job (coming in near forecasts).  Manufacturing continues to heat up in Chicago, as the Chicago PMI jumped up from 59.5 in February to 66.3 in March.  However, Pending Home Sales dropped 10.6% in February, as the Market is dealing with historic lows.  There's plenty of demand, but no supply!  Meanwhile, stocks are Up today, as Funds rebalance their portfolios for end of Q1/month.  Biden is expected to announce his plans for Infrastructure Spending Package.  This doesn't seem to be affecting the Market today, as it's (for the most part) already priced in.  MBS is Up 8bps so far this morning, as it rebounded from it's opening.  Mortgage Rates (for the most part, dependi... 03/31/2021

http://MikesDailyMarketReport.com:  We have a few Home Price Indices (HPI) to report, which we'll start with Case Shiller HPI.  Case Shiller reports that home prices rose 11.1% YoY in January; while the report by OFHEO, whom gathers data from conforming loan programs (Fannie and Freddie) rose 12.0% in January.  Lastly, the Consumer Confidence spiked from a revised 90.4 in February to 109.7 in March (this will have an impact with Yields).  Stocks are Down this morning, as we approach month/quarter end, and Fund Managers rebalance their portfolios.  Investors are closely watching for any further selling from Archegos Capital Management, whom disrupted the Markets yesterday with their block selling of $30 billion, as they liquidate to repay calls.  Also, Biden may be announcing (maybe as s... 03/30/2021

http://MikesDailyMarketReport.com:  There are no economic data to report today; however, we'll receive March Jobs data this week, starting with ADP on Wednesday.  Stocks are currently in Mixed Territory after being in Negative Territory early on due to an unexpected selloff by a large Hedge fund manager.  They dropped off $30 billion into the Market, which has led other investors to research which sectors and and stocks are affected; needless to say, it was a big disruption.  We will expect some choppiness over the next few days, as the 1st Quarter ends; and Fund Manager rebalance their portfolios to meet expected economic recovery and higher Yields.  Speaking of higher Yields, they're spiking as we speak.  They've pushed up to 1.71% so far.  Meanwhile, MBS was looking good until it jus... 03/29/2021

http://MikesDailyMarketReport.com: The Fed's favorite gauge for inflation was released today.  The PCE (Personal Consumption Expenditure) went up 0.2% in February, as it's YoY rose from 1.5% to 1.6%; however, it's Core PCE (excluding the volatile food and energy) rose only 0.1% in February and it's YoY dropped from 1.5% to 1.4%.  The Core PCE is what the Fed terms "Real Inflation" and likes to keep it around 2.0%.  As it appears, we still have room before we reach that level, even though the Markets are anticipating much higher levels.  Another report that was released was Personal Income, which dropped 7.1% in February; and Consumer Spending dropped 1.0%.  Lastly, Consumer Sentiment rose from 83.0 in February to 84.9 in March.  Stocks are in Positive Territory on the low inflation data... 03/26/2021

http://MikesDailyMarketReport.com:  The Weekly Initial Jobless Claims finally dropped below 700k, when it was reported that only 684k people applied for first time unemployment benefits last week.  Also, another great report come in, which was the final revision for the Q4 GDP, which came in higher than it's initial (4.1%) to 4.3%.  Stocks are Up on the data; and the choppiness this week has been occuring, as the big Hedge Fund Managers reposition and rebalance their portfolios for the ending quarter.  As COVID cases hit Europe are resulting in more Lock Downs, which initially helped Yields; but that dissipated, as the 7 year Treasury Auction came in a bit poor.  We're looking for Yields to hold below the important Technical Level that we discussed yesterday, which is around the 1.62% r... 03/25/2021

http://MikesDailyMarketReport.com:  Sorry for the delay in my report today.  I had issues with my computer and just had it fixed by (nearly) Market Close today.  One the economic front, we can start with the Durable Goods Orders, which dropped 1.1% in February; and when you excluded Tranportation, then it dropped 0.9%.  This is the first time in 10 months that it declined.  However, the IHS Markit PMI reports a better story, as the Manufacuring index rose to 59.0; and the Services sector rose to 60.0.  Stocks closed in Negative territory again today, as both Fed's Powell and Treasury's Yellen testified for the second day to Congress.  This time with the Senate Committee.  Nothing different here.  MBS closed Up 5bps today, as the Market showed continued improvement (yesterday, most Lende... 03/24/2021

http://MikesDailyMarketReport.com:  Existing Home Sales dropped from 6.66 million annualized units in January down to 6.22 million  (blowing by estimates of 6.50 million).  The huge drop in inventory levels has severly impacted these numbers, as pent up demand has dramaticallly increased home prices; and many people are concerned, if they sell, then they may not find another place for themselves.  Stocks are in Positive Territory this morning after a choppy week last week.  Investors appear to be a bit uneasy with the Fed and it's decisions; as the Fed remained a bit dovish with their announcement and the Dot Plot indicated that a rate hike may have moved up a year (from 2024 to 2023); and they still hadn't really addressed the Markets worries of the spike in Yields.  Then to top off th... 03/22/2021