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By Mike Bjork
(Pinnacle Home Loan)
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http://MikesDailyMarketReport.com: The NFIB Small Business Index dropped a little bit in August, going from 104.7 to 103.1. This is the lowest level since March, which is when things between US and China got a little bit chippy. It got a little chippy last month too, which may be the reason for t...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: Quiet day on the Economic Calendar, and for the most part on the News day too. Investors will be looking ahead to the ECB announcment later this week, and the FOMC next week, as the Fed Officials go into a Quiet Period before the FOMC. It is expected that the EC...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: Today is the Big Day for the Jobs Data! The Non-Farm Payroll, report given by the Bureau of Labor Statistics (BLS), rose only 130k new jobs in August. The Unemployment Rate remained the same, at 3.7%. The Average Hourly Earnings exceeded forecasts and rose 0.4% ...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: The ADP Report came in strong with 195k new Jobs in the Private Sector. Weekly Jobless Claims came in at 217k. Q2 Productivity dropped from 3.1% in Q1 to 2.3% in Q2. Also, Unit Labor Costs rose 2.6% in Q2. Markit Services PMI dropped from 50.9 in July to 50.7 in...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: Today, we just have the Fed's Beige Book on the Economic Calendar, which will be released around 11am PST. This will provide a Micro Economic view around the US. Stocks are Up this morning on positive Geo-Political news. China is easing on some of the restrictio...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: ISM Manufacturing contracted in August to it's lowest level (49.1%) in approximately 3 years. Construction Spending slighly rebounded in July by rising 0.1%. Investors are a bit uneasy with the Manufacturing data today, along with the Tariffs that were implement...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: Personal Income rose 0.1% in July, while Consumer Spending rose 0.6%. The Personal Consumption Expenditure rose 0.2% in July; whereas, it's YoY essentially remained the same, as the June's number was revised from 1.4% to 1.3%, then rose to 1.4% YoY in July (hope...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: Weekly Jobless Claims rose a little bit from 211k people applying for Unemployment the previous week to 215k last week. Q2 GDP had it's 2nd revision today, which went from 2.1% annualized to 2.0%. It's forecasts called for 1.9%, Also, Pending Home Sales dropped ...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: Nothing to report from the Economic Calendar today. The Market's Sentiment seems to be shifted a bit more sour today, as it begain late yesterday. Stocks closed in Negative Territory yesterday (after starting the day in Positive Territory). Today, it is a bit mi...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: Case Shiller Home Price Index, which gauges home prices in the 20 largest US Cities, dropped from 2.4% YoY in May to 2.1% YoY in June. Consumer Confidence Index had a slight drop from 135.8 in July to 135.1 in August. Headline news are more of the same, or conti...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: Durable Goods Orders rose 2.1% in July, up from 1.8% in June. However, when you exclude the Autos, then it dropped 0.4% in July. Stocks are Up this morning on news that President Trump stated that China contacted him twice over the weekend to return back to nego...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: We only have 1 economic piece to report, which is New Home Sales for the Month of July. In June, we had 728k annualized units sold; however, in July, it dropped to 635k. Very disappointing! That's nearly a 100k drop in 1 month. Stocks are trading in Negative Ter...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: The Weekly Jobless Claims was reduced by 12k from last week's report to 209k. This week's report is important because it is being used by the BLS for their Jobs Data to be reported the first Friday of Sept, which this report is called the "Sample Week". Markit M...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: Existing Home Sales jumped up from 5.29 million annualized units in June to 5.42 million in July. The FOMC Minutes will be released at 11am PST. Investors will be searching for clues behind the Fed's thoughts on past Rate Cut and insight into future Rate Cuts. S...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: There's no economic data to report today (again), which was mentioned yesterday that this will be relatively light in terms of data being reported. The Markets are taking their cue from the remaining Earnings Reports, as big bellweather companies, like HomeDepot...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: There's No Economic Data to report today, and it will be a light week this week, as well. The Market is taking it's cue today on Geo-Political News, as President Trump and his Staff downplay talks of recession. They stated that they expect the economy to continu...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: Housing Starts dropped from 1.241 million in June to 1.191 million in July. Even though this headline number shows a drop, the good news is if you dig deeper, then you'll understand that the drop was due to drop with Multi-Family. There was actually an increase ...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
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% fo...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: There's no economic data to report today. Stocks are being driven downward today (DOW down over 600 so far) on worries of the final Yield Curve Inversion. The 2 year Yield finally inverted with the 10 year Yield. This is important because it's been a very good i...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: The NFIB Small Business Index, which measures the confidence for Small Businesses, rose from 103.3 in June to 104.7 in July. The Consumer Price Index (CPI) rose 0.3% MoM in July, and 1.6% to 1.8% YoY. However, if you remove the food and energy components (which ...

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