| 391. | Mortgage Rates Begin to Creep Up
Some quarter-end volatility paired with stronger-than-anticipated economic data brought out sellers in the bond markets for the second straight day. Traders sold U.S. Treasury securities on signs the economy might be stronger than they thought. The CWall Street closed a tough quarter, with the Dow Jones losing 3.5 percent and the Nasdaq shedding 7.5 percent. Today the Dow was sabotaged by Merck, which plunged 27 percent on news that it is recalling its star drug Vioxx due to newly discovered ris..
 |
| Thursday, September 30, 2004 |
| | 392. | Treasury Yields Rise but Mortgage Rates Don't
There was talk on Wall Street yesterday that the second-quarter Gross Domestic Product (GDP)--the broadest measure of the nation's output of goods and services--might be drastically revised. This time the rumors were true. The final GDP was 3.3 pWall Street rallied for a second day, no doubt sparked by the stronger-than-expected GDP reading. The Nasdaq rallied back from yesterday's sell-off, recouping all of its 1.2 percent loss. Chips, which have been beaten down badly, were scooped up..
|
| Wednesday, September 29, 2004 |
| | 393. | Mortgage Rates in Holding Pattern
Consumer confidence came in a little below estimates, with a tight job market responsible for the decline. And oil prices exceeded the $50 mark for the first time ever. This combination of events ignited buying in U.S. Treasury securities, sending prWall Street rallied, choosing to ignore surging oil prices and a disappointing consumer confidence number. Confidence fell to 96.8 from a revised 98.7 in August, but analysts were expecting an increase to 99.5 percent. Oil prices rose on concerns abo..
|
| Tuesday, September 28, 2004 |
| | 394. | Mortgage Rates Maintain Status Quo
Oil prices continued their upward climb, spurred by new concerns about Nigeria and lingering worries over disruption in the Gulf of Mexico, Iraq, and Russia. Barrel prices crept ominously close to $50 before edging back down to $49.64 at close. U.S. There was good news on housing, as new home sales in August leapt 9.4 percent to an annual rate of 1.184 million units--far exceeding estimates. The report, however, did not excite Wall Street, which sold off again on oil price worries and a host of ..
|
| Monday, September 27, 2004 |
| | 395. | Mortgage Rates Aren't Going Anywhere This Weekend
Fear of future rate hikes kept pressure on U.S.Treasury securities today. Yesterday the Fed released the minutes of its August 10th meeting, and traders were disappointed to learn that although the members that make up the Federal Open Market CommittEconomic news was disappointing for the most part. Durable goods orders in August fell by a stronger-than-expected 0.5 percent, led by a big drop in demand for autos and airplanes. Excluding transportation, however, durable goods were up 0.3 percent,..
|
| Friday, September 24, 2004 |
| | 396. | Mortgage Rates Continue to Ease
Treasuries built on yesterday's rally early in the session, sending yields, which move in the opposite direction of prices, even lower. And oil prices continued to rise--a move that supports Treasuries. Traders believe that high oil prices will kAs much as oil helped Treasuries today, it hurt stocks. The Dow Jones had another down session and has lost 2 percent over the past two days. Concerns about oil prices and weak economic news, which trampled the Dow yesterday, were present again today..
|
| Thursday, September 23, 2004 |
| | 397. | Mortgage Rates Slide as Treasuries Stage Another Rally
U.S. Treasury securities rallied on today, with buyers sending prices up and yields, which move in the opposite direction of prices, down. The yield on the benchmark 10-year note that lenders use as a guide to set mortgage rates, slipped below 4 percOn the other hand, stocks opened down and stayed there, closing at their worst levels of the session. The Dow Jones shed 1.3 percent--the biggest one-day loss in seven weeks--and the Nasdaq lost 1.9 percent. A slew of disappointing corporate reports,..
|
| Wednesday, September 22, 2004 |
| | 398. | Fed Funds Raised, but Mortgage Rates Remain Low
As expected, the Federal Open Market Committee, the policy-making arm of the Federal Reserve Board, raised fed fund rates by 25 basis points (one-quarter of 1 percent). This is the third such rate hike this year, with the other two occurring on June Prior to the Fed decision the markets were trading up tentatively, but with no conviction. Treasuries sold off slightly on unexpectedly strong housing numbers, but righted themselves quickly. Housing starts in August rose to an annual rate of 2 milli..
|
| Tuesday, September 21, 2004 |
| | 399. | Fed Increases Short-Term Interest Rates by 25 Basis Points
As expected, the Federal Open Market Committee, the policy-making arm of the Federal Reserve Board, raised fed fund rates by 25 basis points (one-quarter of 1 percent). This is the third such consecutive rate hike this year, with the other two occurrThe accompanying statement, which is more closely watched for clues as to future intentions, was similar in nature to last month's statement. The Fed acknowledged that there is robust underlying growth and inflation is under control. The Fed sees..
|
| Tuesday, September 21, 2004 |
| | 400. | Treasuries Have a Great Day--Mortgage Rates Hold
U.S. Treasury securities staged another strong rally today based on higher oil prices, Wall Street woes and signs that the Fed is likely to raise short-term interest rates at only two of its last three meetings this year. Although the Fed is widely eThere was no economic news to guide the financial markets, but a series of earnings warnings mixed with a couple of downgrades took their toll on the Dow Jones, which traded down all day. Although neither is a Dow component, earnings warnings from tw..
|
| Monday, September 20, 2004 |
| | 401. | Mortgage Rates Hold as Profit Takers Move In
A stronger-than-hoped-for consumer sentiment survey and a key opportunity to cash in on profits after yesterday's big rally took their toll on U.S. Treasury securities today. While Treasuries did not give back all of yesterday's huge gains, sStocks turned in a pretty good performance, with the three major indices closing in positive territory. On the week, however, the Dow Jones was down 2.8 percent--its first weekly loss after five straight gains. GE and Intel led the Dow with increases..
|
| Friday, September 17, 2004 |
| | 402. | Mortgage Rates on the Way Down
A very benign consumer price index (CPI) paired with a weak Philly Fed report ignited a huge rally in U.S. Treasury securities. Prices shot up amidst aggressive buying and yields, which move in the opposite direction of prices, slid sharply. The declThe CPI, which looks for inflation at the retail level, found none. It rose by a mere 0.1 percent, and the core rate, which excludes volatile food and energy prices, also came in at 0.1 percent, when analysts were expecting a stronger 0.2 percent inc..
|
| Thursday, September 16, 2004 |
| | 403. | The 30-Year FRM Holds at Just Over 5.5 Percent
It was a tough day for the financial markets. Earnings warnings and a steep drop in oil reserves put pressure on stocks, while U.S. Treasury securities sold off after a big jump in the NY Empire State Manufacturing index for September. Treasuries helOil prices were down and up, then down again. Early today OPEC said it would increase its production by 1 million barrels per day beginning in November, which raised spirits temporarily. But the announcement that U.S. inventories of crude oil were at..
|
| Wednesday, September 15, 2004 |
| | 404. | Mortgage Rates Remain at Five-Month Lows
Retail sales in August were softer than expected, falling 0.3 percent. The weak report, which would normally ignite buying in U.S. Treasury securities, instead spurred a little profit taking, which sent Treasury prices down and yields, which move in A 1.9 percent drop in auto sales and a 1.4 percent decline in sales of apparel and accessories in August sent retail sales plummeting below expectations. Even when sales of cars, gas and food were excluded, retail sales hit their lowest level since A..
|
| Tuesday, September 14, 2004 |
| | 405. | Mortgage Rates Holding at Low Levels
Prices on U.S. Treasury securities rose again today, sending yields, which move in the opposite direction of prices, down. Buying was steady for most of the session, with rising oil prices lending support. Oil rose because investors worried about theThere was no economic news to guide Wall Street today, but the Nasdaq didn't notice. For the third straight session technology stocks were the big winners. After being beaten down for the better part of the year, techs are on the move, with semic..
|
| Monday, September 13, 2004 |
| | 406. | Mortgage Rates Trend Down
U.S. Treasury securities began the session in rally mode thanks to a tame producer price index (PPI) for August. The PPI, which checks for inflation at the wholesale level, found none as evidenced by the 0.1 percent decline. The core index, which eliThe second economic report showed a decline in the U.S. trade deficit. The trade gap shrank from a downwardly revised $55.02 billion in June to $50.15 billion in July. Although this news was welcomed by Wall Street, another rally in semiconductors wa..
|
| Friday, September 10, 2004 |
| | 407. | Mortgage Rates Hold in Spite of Sell-off
A trio of reports ganged up on U.S. Treasury securities, forcing them to give back yesterday's gains. A drop of 44,000 in first-time jobless claims surprised everyone--especially after two weeks of increases caused in part by recent hurricanes. TEconomic news evoked a mixed reaction. First-time claims fell to 319,000 and the closely watched four-week average edged down to 339,250. But the number of continued claims--those collecting benefits for more than one week--edged up to 2.898 million...
|
| Thursday, September 09, 2004 |
| | 408. | Thanks, Mr. Greenspan
U.S. Treasury securities rallied this afternoon thanks to some reassuring words from Fed Chief Alan Greenspan, who spoke before the House Budget Committee today. Although he said the economy had "regained traction," his comments restored confidence aThere was no reason for investors to buy stocks today, so they sold--giving back some of yesterday's gains. Greenspan's somewhat tepid assessment of economic growth led to more selling, but stocks were under water most of the day. A couple of..
|
| Wednesday, September 08, 2004 |
| | 409. | Mortgage Rates Hold Near Recent Levels
U.S. Treasury securities rebounded today from Friday's sell-off in the wake of the August employment report. Although short covering was responsible for some of today's movement, others were adjusting their holdings prior to Fed Chief Alan GrBuyers came back to Wall Street after deserting for the better part of August due to vacations, the Olympics and the Republican National Convention. Both the Dow Jones and the Nasdaq gained in excess of 0.70 percent, and the S&P 500 just missed that ..
|
| Tuesday, September 07, 2004 |
| | 410. | Mortgage Rates Climb on Employment Report
The biggest increase in jobs since May spurred selling in U.S. Treasuries. The addition of 144,000 jobs to non-farm payrolls guaranteed the Fed will raise short-term interest rates by 25 basis points when it meets on September 21. Although this move Treasuries had the employment report to deal with, but Wall Street was thumped by Intel. After the bell yesterday Intel issued a grim mid-quarter update, lowering sales and profit margin estimates for the quarter. This had a negative effect on techno..
|
| Friday, September 03, 2004 |
| | 411. | Mortgage Rates Ready to Rise--or Fall
Bond traders sold U.S. Treasury securities aggressively today in case of a strong August employment report tomorrow. Big rallies on Monday and Tuesday and a flat session yesterday saw prices and yields hit their highest and lowest levels in five montStocks put on their rally caps, with each of the three major indices adding 1.2 percent. Although volume was light and some of the gains were technical in nature, that didn't take away from some hard-won gains. All the Dow Jones components, excep..
|
| Thursday, September 02, 2004 |
| | 412. | Mortgage Rates Remain Low
U.S. Treasury securities closed flat after two days of rallies brought about by weak economic news. Today's reports were mediocre, which led to mediocre activity in the bond pits. The ISM index on manufacturing conditions for August came in at 59The Dow Jones also closed near break even, with investors--few that there were--finding no reason to buy. There is also hesitation throughout the financial markets to make big moves prior to Friday's August employment report. The Dow closed with ..
|
| Wednesday, September 01, 2004 |
| | 413. | Mortgage Rates Edge Down
A big rally in U.S. Treasury securities brought about by a pair of weak economic reports, some end-of-month portfolio adjustments, and an influx of funds from foreign investors, sent prices of government issues soaring and their yields, which move inStocks spent the better part of the session wallowing in negative territory. Concern over Intel's mid-quarter update due on Thursday kept pressure on chips, and negativity spread to other sectors. It looked like another gruesome day of trading un..
|
| Tuesday, August 31, 2004 |
| | 414. | Mortgage Rates Remain Low
U.S. Treasury securities had a great day, with prices rising and yields, which move in the opposite direction of prices, falling. Although volume was light, it didn't change the fact that the yield on the benchmark 10-year note closed at its loweThe only economic news released today showed personal income in July rising by only 0.1 percent--the weakest increase in two years and far below the forecast of a 0.5 percent increase. Personal spending, however, was close to target. It rose 0.8 perc..
|
| Monday, August 30, 2004 |
| | 415. | Mortgage Rates Stationary
Stocks posted a winning week and U.S. Treasury prices edged up just a tad, but not enough to have a major effect on mortgage rates. Volume was low all week as the summer wound down, and economic news was tepid but not bad enough to rally Treasuries. Today's economic news had little effect on the markets. Second quarter GDP was revised downward from 3 percent to 2.8 percent--a move that was fully expected and had no effect on the financial markets. The core price index of consumer spending fo..
|
| Friday, August 27, 2004 |
| | 416. | Mortgage Rates Steady to Down
It was a ho-hum day for the financial markets, with little news to make waves and not enough volume to make much difference. Oil prices continued to slide, but this is the fifth day of declines and the prices are no longer having an impact--at least At 4:00 PM:, ..
|
| Thursday, August 26, 2004 |
| | 417. | Mortgage Rates Continue to Hold
U.S. Treasury securities were bombarded by conflicting reports that sent prices up initially, but then pushed them down. Oil prices, which have supported Treasuries over the past few weeks, continued their slide, closing at $43.47 a barrel--down almoEven though volume was extremely low, stocks rallied as oil prices dipped. Twenty-seven of the 30 Dow Jones components closed positive, with Boeing adding more than 3 percent due to a $7 billion order from Singapore Airlines. JP Morgan gained 2 perce..
|
| Wednesday, August 25, 2004 |
| | 418. | Mortgage Rates Hold as Treasuries Sell
Today was "give back" day for U.S. Treasury securities, which have enjoyed more than a month of steady buying. After a short but intense opening rally that saw the yield on the 10-year note fall to 4.15 percent, profit takers moved in. A couple of biStocks posted their fourth straight win as bargain hunters moved in and picked through the ruins. Equities hit their lowest levels of the year last Thursday, but are now on the rise. Technology stocks were the big beneficiaries today. The markets ope..
|
| Wednesday, August 18, 2004 |
| | 419. | Some Mortgage Rates Take the Plunge
U.S. Treasury securities rallied on a tamer-than-expected consumer price index (CPI)for July. The index, which checks for inflation at the retail level, fell 0.1 percent due in part to a decrease in gasoline prices. The CPI core rate, which eliminateIndustrial production and capacity utilization in July also came in below estimates. Although production--the output of factories, mines and utilities--rose 0.4 percent, it failed to inspire, with some of the shortfall pegged to cool weather that cut..
|
| Tuesday, August 17, 2004 |
| | 420. | Mortgage Rates Remain Unchanged
Mixed retail sales, rising oil prices and diving equity markets kept U.S. Treasury securities near break even early in the session. Retail sales in July rose by a weaker-than-expected 0.7 percent, but an upward revision in June numbers took some stinWhile Treasuries posted gains, stocks suffered through another gut-wrenching session led once again by technology. Hewlett-Packard missed on earnings and issued a profit warning that sent its shares down 13 percent, jolting the technology sector. Alt..
|
| Thursday, August 12, 2004 |
| |
