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By Mike Bjork
(Pinnacle Home Loan)
Comments 2
http://MikesDailyMarketReport.com: There are no economic data to report today. Stocks are Up this morning on optimism on the progress of the coronavirus, as death tolls declined in Italy and Spain, and even a bit it NYC. MBS is Up 3bps, as the Fed is just propping them out to help, but not hurt L...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: Non-Farm Payrolls reported 701k job losses for the month of March. This was much higher than estimates, anywhere between 80k-150k job losses, as the sample data used for this model were derived from March 12, which was prior to the full scope of the coronavirus ...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: The Weekly Initial Jobless Claims doubled the amount of people applying for unemployment benefits from previous week, as it went from 3.3 million to 6.6 million; so, in 2 weeks we have approximately 10 million people applying for Unemployment! Factory Orders wer...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: The ADP Employment Report will be the first of 3 Jobs reports we'll receive for the month of March. For the month of March, the ADP reported there were 27k job losses. We also see Manufacturing slip in March, as the Markit Manufacturing PMI slips to 48.5 and the...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: The Case Shiller National HPI rose from 3.7% in December to 3.9% in January. Manufacturing dipped a little further in contraction for the Chicago region, as the Chicago PMI went from 49.0 to 47.8 (below 50 is considered contraction); however, this was better tha...

By Mike Bjork
(Pinnacle Home Loan)
Comments 2
http://MikesDailyMarketReport.com: Pending Home Sales slowed in February, as it's MoM dropped from 5.3% to 2.4%. This number will most likely continue to decline as we all experienced a major and quick shift in the Market over the coronavirus. Stock Market is Up today. The coronavirus is having a...

By Mike Bjork
(Pinnacle Home Loan)
Comments 4
http://MikesDailyMarketReport.com: We have a few economic data to review today, which we'll start with the Personal Income, which rose 0.6% in February; along with Consumer Spending, which rose 0.2% in February. The Fed's favorite gauge for Inflation is the Personal Consumption Expenditure, actua...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: Initial Jobless Claims for last week exceeded it's estimate of 2.5 million, which it came in at 3.283 million. The previous record was 695k in 1982; and the highest it reached during the past Credit Crisis, a decade ago, was 655k; so, you can see how much of an ...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: Durable Goods Orders increased 1.2% in February; but if you exclude Transportation, then it contracted by 0.6%. The FHFA Home Price Index, which measures home appreciation on homes with conforming loans rose 0.3% MoM in January, and it's YoY was 5.2%. Stocks are...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: The Markit PMI flash released their 2 reports (Manufacturing and Service) today. Both dropped MoM in March, as Manufacturing dropped from 50.7 to 49.2; and Services dropped from 49.4 to 39.1, which is the lowest level on record. Anything below 50 is considered c...

By Mike Bjork
(Pinnacle Home Loan)
Comments 4
http://MikesDailyMarketReport.com: There is no data to report on the Economic Calendar today. There's really only one report this week that will be relevant due to the sudden impact of the coronavirus, and that is the Initial Jobless Claims this Thursday. Meanwhile, Stocks are Down this morning o...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: Existing Home Sales jumped Up in February, going from 5.42 million annualized units in January to 5.77 million in February. Because the Market has dramatically shifted from then, we can almost disregard this data. Stocks started the Day in Positive Territory, wh...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: The Initial Jobless Claims had a 70k spike in first time unemployment applicants last week, as it hit 281k. Manufacturing in the Philadelphia completely fell off in March, as it went from a very nice February of 36.7 to -12.7 in March, which is in contraction. S...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: Housing Starts dropped a bit in February, going from 1.624 million annualized units in January to 1.599 million. Also, Building Permits, which is our outlook for Housing Starts, dropped in February, going from 1.550 million in January to 1.464 million. Stocks ar...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: Happy St. Patrick's Day! Today, we have Retail Sales, which dropped 0.5% in February; and when you remove Autos, then it dropped 0.4%. However, Industrial Production rose 0.6% in February. Capacity Utilization rose from 76.8% to 77.0% in February. Home Builders ...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: The manufacturing sector in the NY region dropped dramatically, as the Empire State Index dropped 21.5% in March, which may be signs that the coronavirus is beginning to make it's way into the US economy. Stocks are WAY Down today, even having another 15 minute ...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: The Import Price Index dropped 0.5% in February. The Consumer Sentiment remained Unchanged at 101 in March. Stocks are working their way back into Positive Territory after it's worst day on the Market since 1987. The DOW was up nearly 1000 points, but is current...

By Mike Bjork
(Pinnacle Home Loan)
Comments 2
http://MikesDailyMarketReport.com: The Initial Jobless Claims report dropped by 4k, from previous week, to 211k people applying for unemployent benefits for the first time. The Producer Price Index, which measures inflation with the Wholesale sector, dropped 0.6% in February, which it's YoY dropp...

By Mike Bjork
(Pinnacle Home Loan)
Comments 3
http://MikesDailyMarketReport.com: The Consumer Price Index rose 0.1% in February, however, it's YoY dropped from 2.5% to 2.3%. It's Core, excluding food and energy, rose 0.2%; and it's YoY rose from 2.3% to 2.4%. Based on how the economy is beginning to shape up, inflation will drop, so this wil...

By Mike Bjork
(Pinnacle Home Loan)
Comments 2
http://MikesDailyMarketReport.com: The NFIB Small Business Index, which measures the confidence level with Small Businesses, rose from 104.3 to 104.5 in February. This, like many other data that will be reported can almost be disregarded, as we've entered a new catalyst to our economy, which this...

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