| 421. | Mortgage Rates Remain Unchanged
U.S. Treasury securities recouped some of yesterday's losses following the Fed's increase in short-term interest rates by another 25 basis points. Today Treasuries attracted buyers as the equity markets headed south on disappointing corporateWall Street was under pressure right from the start, based on a weak earnings forecast by Cisco Systems that evoked fears of a slowdown in technology spending. Cisco plunged almost 11 percent today, and brought its rivals down with it. National Semic..
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| Wednesday, August 11, 2004 |
| | 422. | Mortgage Rates Hold In Spite of Fed Increase
The Federal Open Market Committee, the policy-setting arm of the Federal Reserve, raised short-term interest rates by another 25 basis points, as expected. This rate increase hiked fed funds rates, the rate banks charge each other for overnight loansThe Fed said its stance on monetary policy "remains accommodative," and acknowledged recent economic softness. "The economy nevertheless appears poised to resume a stronger pace of expansion going forward," the Fed said, concluding, "the upside and d..
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| Tuesday, August 10, 2004 |
| | 423. | Mortgage Rates Fall on Weak Employment Numbers
The July employment report showing only 32,000 jobs added to non-farm payrolls sparked a huge rally in U.S. Treasury securities. Traders bought on the hope that the weak numbers will discourage the Fed from carrying out its plan to raise interest ratThe employment report showed a 0.3 percent increase in earnings and the actual rate of unemployment dropped to 5.5 percent. This number, however, is derived from a separate survey deemed to be less reliable than the "jobs added" data. Technology stoc..
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| Friday, August 06, 2004 |
| | 424. | Mortgage Rates Slide on Oil Concerns
Wall Street is frantic about the effect ever-increasing oil prices might have on the economy. High energy prices not only could slow economic recovery and consumer spending but also cut into corporate profits. Stocks plunged today on these worries anA drop of 11,000 in first-time jobless claims for the week ended July 30 had little effect the equity markets, which focused on oil prices and tomorrow's employment data. Tuesday's report on unexpectedly high announced job cuts for July from ..
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| Thursday, August 05, 2004 |
| | 425. | Mortgage Rates Remain Near Recent Levels
The markets traded in negative territory much of the day. A number of technology and telecom earnings warnings weighed on the markets, as did the downgrading of Honeywell from neutral to reduce. Late in the day the Dow had a moderate rebound. In gEconomic news today from the Institute for Supply Management’s Services Index was at 64.8 in July, following a June reading of 59.9. This was ahead of economists’ estimates and well above 50—indicating
expansion in the sector. In a separate rep..
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| Wednesday, August 04, 2004 |
| | 426. | Mortgage Rates Edge Back Down
U.S. Treasury securities closed to the upside for the fifth consecutive day, with prices rising and yields, which move in the opposite direction of price, continuing to fall. Personal income and outlays for June ignited buying this morning. Spending Negative economic news and another spike in oil prices put heavy pressure on stocks, which closed with substantial losses. The Nasdaq shed 1.73 percent as big-cap techs took a beating. Microsoft and Cisco Systems suffered significant losses, but Sun ..
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| Tuesday, August 03, 2004 |
| | 427. | Mortgage Rates Remain Near Recent Low Levels
The markets today have been trading both up and down but mostly up. Gains in technology stocks have been able to push the stocks on the NASDAQ Composite Index into positive territory. This and the drop in oil prices even helped the stocks of the DoEconomic news today from the Labor Department showed that the number of Americans filing initial claims for unemployment benefits rose by 4,000 from an upwardly revised 341,000 the prior week to 345,000 in the week ended July 24th. Separately, the L..
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| Thursday, July 29, 2004 |
| | 428. | Mortgage Rates Continue Moving Up
A disappointing report on June durable goods orders took some pressure off U.S. Treasury securities. Durables rose 0.7 percent last month--less than the forecast 1.5 percent increase--but much better than the upwardly revised 0.9 percent loss in May.A spike in oil prices, so-so economic news and more discouraging corporate guidance sent stocks down today after yesterday's big rally. Oil prices soared to over $43 a barrel before retreating, but rose $1.11 today when Yukos, a leading Russian ..
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| Wednesday, July 28, 2004 |
| | 429. | Mortgage Rates Edge Up
A big leap in consumer confidence paired with strong new home sales in June spurred a big selloff in U.S. Treasury securities. Convincing data showed investors that maybe the economy isn't as vulnerable as was thought. The Conference Board consumUpbeat economic data and solid earnings from Verizon lifted the Dow Jones industrials, which closed near their highs of the day with a 1.2 percent gain. Verizon, which moved higher yesterday on the strength of BellSouth numbers, added 3.7 percent tod..
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| Tuesday, July 27, 2004 |
| | 430. | Mortgage Rates Unchanged in Spite of Sell-off
U.S. Treasury securities were under selling pressure all day. Treasuries fell early in the session as safe-haven buyers sold after a trouble-free weekend, although anxiety surrounding the Democratic Convention in Boston remains. In addition, strongerExisting-home sales in June shocked investors, rising 2.1 percent to a record-high annual rate of 6.95 million units. This could stimulate the economy as homeowners furnish and upgrade their new residences. The equity markets rose on the news, but th..
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| Monday, July 26, 2004 |
| | 431. | Mortgage Rates Continue Near Recent Low Levels
The markets today have been trading both up and down but mostly down. In late afternoon trading the markets attempted a recovery. The report about unemployment benefits was better than expected, but the report on leading economic indicators was weaEconomic news today from the Labor Department showed that the number of Americans filing initial claims for unemployment benefits dropped by 11,000 from an upwardly revised 350,000 in the previous week to 339,000 in the week ended July 16th. This wa..
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| Thursday, July 22, 2004 |
| | 432. | Mortgage Rates Hover Near Recent Low Levels
The markets today traded up in the morning on Mr. Greenspan’s remarks and on some positive second-quarter earnings reports. In the afternoon, however, the markets mostly headed down. The dollar was stronger versus the yen and the Euro. In global tThere was no new significant economic news today, but Federal Reserve Chairman Alan Greenspan gave the testimony that he gave to the Senate Banking Committee yesterday to the House of Representatives Financial Services Committee today. The question ..
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| Wednesday, July 21, 2004 |
| | 433. | Mortgage Rates Hold Steady--For Now
Fed Chairman Alan Greenspan's semiannual testimony before the Senate Banking Committee spelled hard times for U.S. Treasury securities. The Fed chief said economic growth is solid, and signs of a recent slowdown were temporary. "Financial marketsAt 4:00 PM:, ..
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| Tuesday, July 20, 2004 |
| | 434. | Mortgage Rates Continue at Recent Lower Levels
The equity markets today have been trading mostly to the downside. The shares of 3M lost more than 5 percent, and Home Depot, Alcoa, Honeywell, and Lexmark International all traded down. On the other hand, Intel and Microsoft were trading up. The dSince there was no new significant economic news today, investors have been depending on political and corporate news to help them gain a sense of direction. Although 3M reported strong second quarter earnings and boosted its forecast, its third-qua..
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| Monday, July 19, 2004 |
| | 435. | Mortgage Rates Edge Down a Little
The equity markets today have been trading fairly mixed much of the day, but they ended in negative territory. Investors were pleased with the tame CPI report. Stocks trading up included IBM, Martha Stewart Living Omnimedia, Dell, and Johnson & JohEconomic news today from the Labor Department said that in June the Consumer Price Index (CPI) was up 0.3 percent, while the core rate, which excludes the often volatile food and energy costs, was up just 0.1 percent. This was lower than economists’..
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| Friday, July 16, 2004 |
| | 436. | Mortgage Rates Continue Near Recent Low Levels
The equity markets today have been trading mixed—both up and down. Much of today’s economic news was weaker than economists’ expectations. Stocks down today include Nokia, LM Ericsson, Harrah’s Entertainment, and Caesars Entertainment. Among stockEconomic news today from the Labor Department showed that the number of Americans filing initial claims for unemployment insurance was up 40,000 from a revised 309,000 the previous week to 349,000 in the week ended July 9th. Separately, the Federal ..
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| Thursday, July 15, 2004 |
| | 437. | Mortgage Rates Weather the Storm
U.S. Treasury securities rose on weak June retail sales numbers, but gains were only temporary and then sellers moved in. Although signs of a slowing economy, as suggested by the report, were welcome, traders turned their focus to the producer and coJune retail sales, which plunged 1.1 percent--the biggest drop in 16 months--pulled the rug out from under Wall Street. Although the decline was led by weak auto sales, when they were excluded sales still were below estimates, falling 0.2 percent. Th..
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| Wednesday, July 14, 2004 |
| | 438. | Mortgage Rates Still Holding
U.S. Treasury securities sold off today, responding to a narrowing of the U.S. trade deficit--the first in seven months. Bond traders fear the increase in exports will add to the GDP and force more aggressive Fed rate hikes. Treasuries sold, but not The gap in U.S. international trade in goods and services decreased unexpectedly in May to $46 billion. Record exports, aided by an improved global economy and a weak dollar, were responsible for the lower deficit, even though imports also set a rec..
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| Tuesday, July 13, 2004 |
| | 439. | Mortgage Rates Find No Reason to Change
A dearth of market-moving economic news last week and nothing on the horizon until Wednesday of this week left U.S. Treasury securities close to unchanged. Treasuries began trading positive early in the session on the suspicion that retail sales in JThe big slide in stocks was based Merrill Lynch's negative view of the chip sector, and its downgrading of several big names in semiconductors, including Intel, Texas Instruments, Novellus and Applied Materials. Weakness in the chip sector washed..
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| Monday, July 12, 2004 |
| | 440. | Mortgage Rates Remain Unchanged
Stocks rebounded today but still closed lower on the week while U.S. Treasury securities remained unchanged. This week was reported as the "quietest" week in the bond pits in almost six years. Treasury yields fell last Friday due to a weaker-than-expStocks were also left without guidance, but a string of uninspired quarterly reports and a series of earnings warnings and downgrades kept the pressure on. The Nasdaq was hardest hit, losing more than 2 percent on the week. Weakness in semiconductors..
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| Friday, July 09, 2004 |
| | 441. | Mortgage Rates Remain Close to Recent Low Levels
The equity markets today have been trading mostly in negative territory, although investors are attempting to move to higher ground. Investors have not been impressed by the first wave of high-profile earnings reports. In today’s trading the sharesEconomic news today from the Labor Department showed that the number of people filing jobless claims fell sharply by 39,000 from a revised 349,000 the prior week to 310,000 in the week ending July 3rd. This was much lower than the 345,000 number tha..
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| Thursday, July 08, 2004 |
| | 442. | Mortgage Rates Continue Near Recent Low Levels
The equity markets today have been trading in both positive and negative territory. They have struggled valiantly to try to end the day in positive territory. Declining oil prices initially gave the markets a slight boost, while more earnings warni Economic news today from Redbook Research showed that sales at major retailers were up by 3.3 percent on a year-over-year basis for the week ended June 26th. This was slightly higher than the prior week’s 3.2 percent reading. Separately, the Inter..
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| Wednesday, July 07, 2004 |
| | 443. | Mortgage Rates Continue to Drop
The equity markets today have been trading nearly the entire day in negative territory. Investors were generally very disappointed with the June employment report. Nearly all of today’s stocks traded in negative territory. In international trade, Economic news today from the Labor Department indicated that in June employers added only 112,000 jobs to the nation’s payrolls. This was less than half of the May’s revised gain of 235,000 jobs and well below the anticipated June number of 250,000...
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| Friday, July 02, 2004 |
| | 444. | Mortgage Rates Drop Today
The equity markets have been trading nearly the entire day in negative territory. Because of weak economic news, a number of downgrades, and profit warnings, the major indexes have been way down. In international trade, Asian and European markets clEconomic news today from the Labor Department showed that the number of Americans filing for unemployment benefits was up 1,000 from a revised 350,000 the prior week to 351,000 in the week ended June 26th. Meanwhile, the National Association Institu..
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| Thursday, July 01, 2004 |
| | 445. | Mortgage Rates Creep Up
Mortgage rates crept up today in response to yesterday's Treasury sell-off. Monday saw big upward moves in U.S. Treasury yields, as traders sold on inflation worries. Today mortgage lenders raised rates to reflect yesterday's increases. IronStocks rallied on the consumer confidence report, which climbed to 101.9--far exceeding the 95 that was forecast. Optimism about business conditions and employment gains paired with enthusiasm about lower gasoline prices sent the index soaring. The t..
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| Tuesday, June 29, 2004 |
| | 446. | Mortgage Rates Hold Steady--for Now
An increase in the core price index--one of the Fed`s favorite inflation indicators--ignited a sell-off in U.S. Treasury securities. The report fueled fear that not only would inflation erode the value of fixed-asset investments, but also influence tA smooth transition of power to an interim Iraqi government bolstered stocks, which surged on the economic news. The Iraqis assumed power during a surprise transfer that came two days ahead of schedule--a decision many assume was made to avert any at..
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| Monday, June 28, 2004 |
| | 447. | Mortgage Rates Hold at Lower Levels
A slight downward revision in first-quarter GDP calmed U.S. Treasury traders today. Slower-than-expected economic growth may remove the need for aggressive rate hikes by the Fed. Even the 2 percent increase in the cost price index--a favorite inflatiOnce again technology stocks led Wall Street and the Nasdaq closed up for the week. Chips and telecoms were strong, but JDS Uniphase and Dell led the tech bellwethers with gains of 3.5 percent each. The Dow Jones, which took a serious tumble in the l..
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| Friday, June 25, 2004 |
| | 448. | Different Day Same Mortgage Rates
U.S. Treasury securities weathered a bout of mild selling today prior to tomorrow`s auction of two-year notes and eight days before the Fed makes its decision on interest rates. Treasury traders sold today on concern that foreign investment in tomorrThe Dow Jones and the S&P 500 climbed out of negative territory two hours before closing and rallied to their best levels of the day. The impetus was the technology sector, which went wild in the waning hours. The Nasdaq zoomed out of negative territ..
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| Tuesday, June 22, 2004 |
| | 449. | Mortgage Rates Remain at Recent Levels
Despite the news from Intel and a couple of mergers, the markets showed little enthusiasm. In the bank sector, Wachovia said that it would buy SouthTrust for around $14.3 billion in stock. Shares of Wachovia went down, while those of SouthTrust wenSince there was no new significant economic news today, investors have been depending primarily on political and corporate news for gaining a sense of direction. In corporate news, Intel’s CEO said that he expects the company to report record second..
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| Monday, June 21, 2004 |
| | 450. | Mortgage Rates Edge Down
Despite a lack of substantial economic news, the markets moved moderately off recent lows. A number of stocks moved marginally up. Among those moving up were Alcoa, 3M, Microsoft, Citigroup, and Solectron, On the other hand, Red Hat, Adobe SystemWith little new economic news today, investors have been depending mostly on political and corporate news for gaining a sense of direction. The only economic report showed that the nation’s trade deficit jumped to a record $144.9 billion in the firs..
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| Friday, June 18, 2004 |
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