Explore Redondo Beach, CA

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: Nothing on the Economic Calendar today. Stocks are in Negative Territory this morning, after yesterday's rally on the euphoria on the agreement between US and China to go back to the table for their Trade Talk. Now Wallstreet is waiting on Job Numbers that will ...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: Markit Manufacturing PMI rose from 50.1 in May to 50.7 in June. ISM Manufacturing Index dropped from 52.1% in May to 51.7% in June. Globally, many countries (like China, Japan and Germany) are contracting in Manufacturing. Constructions Spending dropped 0.8% in ...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: A lot on the Economic Calendar today! Starting off with the Personal Income for the month of May, which was up 0.5%; whereas, Consumer Spending was up 0.4% in May. Personal Consumption Expenditure was Up 0.2%, as was the Core PCE (also called Core Inflation) Up ...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: Initial Jobless Claims rose to 227k this week, along with a revision of 1k to last week's numbers from 216k to 217k. The Final Revision for the Q1 GDP remained at 3.1%. It will be interesting to see what Q2 provides. Q1 was a lot of build up of Inventories durin...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: Durable Goods Orders are still dragging, as Boeing's (737 Max) woes continue to bring down those numbers. April's numbers were revised lower, as the revision led from -2.1% to -2.8%; and it declined 1.3% in May. However, if you remove Transportation, then it imp...

By Mike Bjork
(Pinnacle Home Loan)
Comments 2
http:MikesDailyMarketReport.com: The Economic Calendar is light today, so the Geo-Political will have the most affect on the Markets today. Stocks are in Mixed Territory, as NASDAQ is currently in the Red. Investors are looking ahead to the G20 Summit in Japan, which begins Friday, when it is exp...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: Both Manufacturing and Services Sectors are shrinking according to the Markit Flash PMI Indices. The Markit Flash Manufacturing PMI dropped from 50.5 in May to 50.1 in June. The Markit Flash Services PMI dropped from 50.9 in May to 50.7 in June. Anything above 5...

By Mike Bjork
(Pinnacle Home Loan)
Comments 0
http://MikesDailyMarketReport.com: Initial Jobless Claims dropped from the previous week of 222k to 216k for this week's data. This week's data is important becuase it is being used by the Bureau of Labor Statistic's (BLS) Job Numbers for June, which will be released on July 5th. The lower number...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: Today is Fed Day! The Fed wraps up it's 2 day meeting and will provide their decision around 11am PST today, so expect some Market Volatility. All eyes are on the Fed today, as they await their decision. The sentiment is the Fed will set the stage for a July Rat...

By Mike Bjork
(Pinnacle Home Loan)
Comments 1
http://MikesDailyMarketReport.com: Housing Starts came in at 1.27 million annualized units for May compared to a revised (higher) 1.29 million annualized units in April. The revision shows it dropped; but without the revision, it would have rose. Building Permits remained unchanged from April to ...

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...

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