| 331. | Mortgage Rates Remain Steady
Light volume on this holiday-shortened week resulted in lackluster trading in U.S. Treasuries, in spite of news that on other days would might have rattled the market. Instead, Treasuries closed up just slightly and their yields, which move in the opStocks got off to a rousing start, but faded during the session and closed nearly flat. The Dow Jones, which was up 80-some points in the early going, was pulled back down by Pfizer, which had another rough day -- down 5.7 percent. The FDA demanded t..
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| Monday, December 20, 2004 |
| | 332. | Mortgage Rates Creep Up on Treasury Sell-Off
Profit takers moved in early and sold U.S. Treasury securities with abandon. The yield on the benchmark 10-year note shot up to 4.25 percent, as yields move in the opposite direction of prices. After an unexpectedly strong year for bonds, traders booWall Street closed with a winning week, but today was a down day. Pfizer dragged the Dow Jones and the drug sector down with the warning about the safety of its painkilling drug Celebrex. The stock plunged 18 percent, but closed with an 11 percent lo..
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| Friday, December 17, 2004 |
| | 333. | Mortgage Rates Reverse Course -- Now Set to Move Up
Today proves that what goes up must come down. Yesterday prices on U.S. Treasury securities soared, sending yields, which move in the opposite direction of prices, to six-week lows. But a major Treasury sell-off today sent prices down and yields zoomStocks were hurt by the housing numbers, which affect many economic sectors. As a result, the equity markets struggled all day, with the Dow Jones eking out a small gain thanks to a couple of big winners. Merck added another 4.3 percent on news of jo..
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| Thursday, December 16, 2004 |
| | 334. | Mortgage Rates Poised to Edge Down
Still basking in the glow of yesterday's Fed statement that said "underlying inflation (is) expected to be relatively low," bond traders bought today and they bought aggressively. Treasury prices climbed and their yields, which move in the opposiStocks opened on an upbeat note, with news of the $35 billion Sprint-Nextel merger, and positive earnings out of Best Buy, Lennar and Lehman Brothers. But the spike in oil prices weighed on stocks, and although they closed well off their lows, gains ..
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| Wednesday, December 15, 2004 |
| | 335. | Fed Raises Rates but Mortgage Rates Hold
The Federal Open Market Committee today raised short-term interest rates by one-quarter of one percent for the fifth time since June. This puts the fed funds rate at 2.25 percent -- the rate banks charge each other for overnight loans -- and the primThe day began on a negative note, with the U.S. trade gap hitting a new high -- $55.5 billion. Although high oil prices were responsible for part of the increase, the size of the deficit worried Treasury traders who fear foreign investors will shy aw..
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| Tuesday, December 14, 2004 |
| | 336. | Fed Hikes Interest Rates One More Time
The policy-making arm of the Federal Reserve Board raised short-term interest rates by 25 basis points for the fifth time since June. This will put the fed funds rate at 2.25 percent -- the rate that banks charge each other for overnight loans -- aIn the accompanying statement the Fed said that inflation is expected to remain relatively low, which is good news for U.S. Treasury securities, and that it would remain accommodative. The statement was similar in nature to the one released at the pr..
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| Tuesday, December 14, 2004 |
| | 337. | Mortgage Rates Remain Unchanged
U.S. Treasury securities traded close to unchanged today in spite of better-than-expected retail sales in November. Retail activity was held down by slow auto sales, but managed to beat estimates with a 0.1 percent gain. When auto sales were excludedStocks rallied on the retail report, with the three major averages each gaining close to 1 percent. The S&P 500 hit a high for the year. There was also more merger news that boosted stocks. After 18 months of rejections, PeopleSoft finally said "yes"..
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| Monday, December 13, 2004 |
| | 338. | Mortgage Rates Remain Unchanged
U.S. Treasury securities traded close to unchanged today in spite of better-than-expected retail sales in November. Retail activity was held down by slow auto sales, but managed to beat estimates with a 0.1 percent gain. When auto sales were excludedStocks rallied on the retail report, with the three major averages each gaining close to 1 percent. The S&P 500 hit a high for the year. There was also more merger news that boosted stocks. After 18 months of rejections, PeopleSoft finally said "yes"..
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| Monday, December 13, 2004 |
| | 339. | Mortgage Rates on the Way Down
Buyers came back to U.S. Treasury securities today, sending prices up and yields, which move in the opposite direction of prices, down. Although buying was steady, a rise in producer prices and a jump in consumer confidence put a cap on activity. TheStocks wobbled back and forth, but at closing bell they weren't far from where they opened. This ended a string of six straight weeks of gains. Some individual stocks did well due to corporate news. GE and SBC increased their dividends and gained..
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| Friday, December 10, 2004 |
| | 340. | Mortgage Rates Begin to Creep Back Down
U.S. Treasuries hit a speed bump today bringing yesterday's rally to a sudden halt. Buying slowed in the early hours of the session but made a U-turn when the reopening auction of 10-year notes failed to attract bids from foreign investors. YesteStocks opened to the downside and remained there, not crossing into positive territory until 1 PM. Rising oil prices prior to tomorrow's OPEC meeting, and lowered fourth-quarter sales estimates by a couple of big names in semiconductors, weighed ..
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| Thursday, December 09, 2004 |
| | 341. | Mortgage Rates Hold at Lower Levels
U.S. Treasury yields continued their downward slide today, thanks in part to the resurgence of the dollar and a surprisingly successful auction of 5-year notes. Treasury yields move in the opposite direction of price. Treasury yields plunged today inStocks rebounded from yesterday's sell-off, although they closed off their highs and fell short of recouping yesterday's losses. But they did come back, with 21 of the Dow Jones components closing in positive territory. Merck led with a 2 per..
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| Wednesday, December 08, 2004 |
| | 342. | Mortgage Rates Back in Their Groove
Mortgage rates rose last week, but reversed course after the weaker-than-expected employment report was released on Friday. U. S. Treasuries rallied on the disappointing numbers, sending yields, which move in the opposite direction of prices, back doStocks had a much tougher time today. Although they opened near break even, by noon they were in free fall. The Nasdaq, which has posted seven straight weeks of gains, was ripe for profit taking. The sell-off began with chips, Internet and software s..
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| Tuesday, December 07, 2004 |
| | 343. | Mortgage Rates Hold at Recent Levels
Concerns about the price of oil prior to Friday's meeting of OPEC and the attack on the U.S. consulate in Saudi Arabia spurred a little safe-haven investing in U.S. Treasury securities today. Relief over the weak November employment report added Wall Street couldn't muster much enthusiasm today. The Nasdaq closed with a small gain while the Dow Jones edged down 0.4 percent. A pair of downgrades weighed on the Dow and spread to other components. Alcoa lost 1.3 percent, but Pfizer shed 2.4..
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| Monday, December 06, 2004 |
| | 344. | Employment Report Sends Mortgage Rates Back Down
A November employment report that showed only 112,000 jobs added to non-farm payrolls--way below the estimate of 180,000 to 200,000--ignited a huge rally in U.S. Treasury securities. Buying was frantic on the hope that the Fed might not be as aggressStocks moved up early and closed positive for the day and the week, but well off their highs of the session. Wall Street got a lift from Intel, which last night raised its fourth quarter sales guidance significantly due to expected strong holiday sa..
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| Friday, December 03, 2004 |
| | 345. | Mortgage Rates Hold at Elevated Levels
U.S. Treasuries endured yet another round of selling today, with pressure coming from a Wall Street Journal article stating that Fed officials believe inflation is on the rise. (Inflation is the sworn enemy of fixed-rate assets and a signal to the FeAt 4:00 PM:, ..
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| Thursday, December 02, 2004 |
| | 346. | Mortgage Rates Up Across the Board
After days of steady but incremental increases, mortgage rates today edged above the next level. Rates on most popular mortgage products are one-eighth (0.125) of a percent higher than they were a week ago. In the bigger picture, however, they remainThe ISM index on manufacturing conditions beat forecasts, rising to 57.8. But the new orders, and especially the employment components, were much stronger than expected. Personal income in October rose 0.6 percent, while personal spending climbed 0.7..
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| Wednesday, December 01, 2004 |
| | 347. | Mortgage Rates Continue Their Upward Climb
U.S. Treasury securities remained under pressure today, due largely to weakness in the dollar, a surprising increase in third quarter GDP, and some numbers hidden in the Chicago manufacturing index. Early today the dollar hit its lowest level ever Disappointing Thanksgiving weekend shopping totals took a toll on retailers, which posted great sales on Friday, but so-so results for Saturday and Sunday. Wal-Mart, which announced yesterday that sales in November were below expectations, today said..
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| Tuesday, November 30, 2004 |
| | 348. | Pressures on Treasuries Send Mortgage Rates Up
A host of pressures on U.S. Treasury securities sent prices plunging and their yields, which move in the opposite direction of prices, moving up sharply. The yield on the benchmark 10-year, which lenders use as a guide to set mortgage rates, hit its Wal-Mart disappointed Wall Street by warning that November sales would be lower than expected after missing sales targets over the weekend. Stock in the retail giant fell almost 4 percent, and it took other retailers that had good sales, such as Kohl..
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| Monday, November 29, 2004 |
| | 349. | Mortgage Rates Continue to Hold Steady
A mixed batch of economic indicators left U.S. Treasury securities closing just a bit south of where they opened. A tiny increase in new home sales, a big drop in first-time unemployment claims, a small rise in the University of Michigan consumer sNew home sales in October edged up 0.2 percent to an annual rate of 1.23 million units, which was better than expected. And first-time unemployment claims dropped sharply for the week ended November 19. Not only did claims fall by 12,000 when an incr..
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| Wednesday, November 24, 2004 |
| | 350. | Mortgage Rates and Financial Markets Unchanged
A midday spike in oil prices, new lows for the dollar, a downgrade of a number of chips and low pre-holiday volume left the financial markets close to where they opened. Even existing home sales in October were a non-event. Sales edged down 0.1 perThe Dow Jones opened in positive territory but fell when oil prices soared. However, the index clawed its way back above break even prior to the closing bell. There were a few standouts in the Dow, but most of the components were close to unchanged f..
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| Tuesday, November 23, 2004 |
| | 351. | Mortgage Rates Hold Steady
Uncertainty in several areas encouraged safe-haven buying in longer-term U.S. Treasury securities. Traders were seeking protection from the decline in the dollar (although it finally edged up this afternoon), fluctuating oil prices that rose this mWith no economic news to impact Wall Street, investors showed up but had little reason to buy. All the major indices traded negative until the early afternoon, then headed up as oil prices slid. The Dow Jones added only 0.3 percent, and although 20 o..
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| Monday, November 22, 2004 |
| | 352. | Mortgage Rates Poised to Rise
The financial markets had a tough day with both stocks and U.S. Treasury securities selling off in response to Fed chief Alan Greenspan's warnings regarding the weak dollar, the trade and budget deficits, and stern words about interest rates. ISelling pressure was also felt on Wall Street. Only two of the Dow Jones components closed in positive territory--Exxon and Disney, which offered a positive quarterly report. The spike in oil prices--caused in part by disruptions in shipping from Ira..
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| Friday, November 19, 2004 |
| | 353. | Mortgage Rates Trying to Creep Down
U.S. Treasury securities continued to attract buyers today, but the pace slowed from yesterday's big rally. Treasury prices did edge up, however, and their yields, which move in the opposite direction of prices, crept down. While yesterday'Stocks struggled throughout the session, but both the Dow Jones and the Nasdaq closed with gains of .22 percent. The Dow traded up on positive news, with Altria leading the way with a 2.23 percent gain on hints from the government that the cigarette ..
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| Thursday, November 18, 2004 |
| | 354. | Mortgage Rates Hold the Fort
In spite of strong housing numbers, increased industrial production and a slight uptick in oil prices, U.S. Treasury securities were in rally mode. Why? The consumer price index (CPI), which looks for inflation at the retail level, came in close toA relatively tame CPI was not the only good economic news today. Housing starts soared 6.4 percent in October, although some of those numbers reflected reconstruction in Florida. Nevertheless, starts came in at an annual rate of 2.03 million units, h..
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| Wednesday, November 17, 2004 |
| | 355. | Mortgage Rates Withstand Assault of the PPI
The producer price index (PPI), which looks for inflation at the wholesale level, made its biggest leap in 15 years last month, propelled by sharp rises in food and energy costs. The increase in wholesale prices ignited fear of inflation, which tooThe three-week Wall Street rally came to abrupt end today, with all the major indices down nearly 0.7 percent. There was pressure from the PPI, but there also were likely some profit takers doing their thing. And another decline in the price of oil, ..
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| Tuesday, November 16, 2004 |
| | 356. | Mortgage Rates Remain Unchanged
In spite of a dollar that fell against the yen (but actually gained a little versus the euro), falling oil prices and word from a Fed official that interest rates are likely to keep ticking up, U.S. Treasury securities held their ground. And mortgaStocks took a breather after a three-week rally that saw them hit year-long highs on Friday. The Dow Jones and S&P 500 closed flat for all practical purposes, but the Nasdaq managed a 0.43 gain on the day thanks to a couple of big movers. Sun Microsy..
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| Monday, November 15, 2004 |
| | 357. | Mortgage Rates Steadfast in Face of Volatility
U.S. Treasury securities traded up in the overnight hours as the dollar continued its decline against the euro and the yen. But a couple of strong economic reports turned things around and traders began to sell. The retail report for October was woStocks got good news on two fronts. Positive economic news paired with upbeat corporate reports led to broad gains for the three main indices. The S&P 500, which tracks a wide range of companies, closed positive for the eleventh time in 14 sessions. ..
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| Friday, November 12, 2004 |
| | 358. | Bond Market Holiday Leaves Mortgage Rates Unchanged
There was no trading in U.S. Treasury securities, as the markets closed to observe Veterans' Day. The closure, which occurred the day after the Fed raised short-term interest rates by an expected 25 basis points, left mortgage rates in a state ofAfter three days of marking time prior to the Fed decision that promised future rates hikes would be made "at a pace that is likely to be measured," stocks resumed their winning ways. Another slide in oil prices--down to $47.42 a barrel--also fed the..
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| Thursday, November 11, 2004 |
| | 359. | Fed Rate Hike Ignored by Markets
The financial markets were spooked for days about what the Fed would say after today's meeting. But as it turned out, all the apprehension was for nothing. As expected, the Fed raised short-term interest rates by 25 basis points to 2 percent, butStocks were choppy, but at the closing bell the Dow Jones and S&P 500 were right near break even. The Nasdaq fell 0.4 percent, partially due to a 6.63 percent decline in Cisco Systems. After the bell yesterday, the tech bellwether reported in-line ea..
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| Wednesday, November 10, 2004 |
| | 360. | Fed Hikes Short-Term Interest Rates by 25 Basis Points
The Federal Open Market Committee, the policy-making arm of the Federal Reserve, today raised short-term interest rates by 25 basis points, as expected. The much-anticipated accompanying statement was nearly a repeat of the September document that noToday's increase sets the fed funs rate at 2 percent (the rate banks charge each other for overnight loans), and the prime rate will likely be increased to 5 percent by Thursday. , ..
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| Wednesday, November 10, 2004 |
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